IL&FS PE clocked exits worth $29M in Q2

IL&FS Investment Managers Ltd (IIML), one of the country’s largest home-grown private equity firms in terms of assets under management, struck exits worth Rs 177.5 crore ($28.9 million) across growth equity, infrastructure and real estate assets in the second quarter ended September 30, 2014, it disclosed on Wednesday.

The PE fund manager, which clocked exits worth Rs 306.5 crore ($49.9 million) in the first quarter ended June 30, said it has touched Rs 484 crore at the end of H1. It did not disclose the names of the firms where it exited or part-exited in Q2.

It had struck exits worth Rs 150 crore (around $25 million) in Q2 FY14.

For FY14 as a whole it had booked exits worth Rs 974.6 crore (around $160 million), an 81 per cent rise in the value of exits compared with FY13 when it recorded exits worth Rs 538 crore.

IIML scrip last traded at Rs 20.35 a share, down 7.71 per cent on the BSE in a strong Mumbai market on Wednesday.

"The Indian economy has bounced back registering a 5.7 per cent GDP growth in Q1FY2015. With stable political environment, improvement in business confidence and congenial conditions for restarting investment demand, GDP growth is expected to improve further. The domestic capital market has been buoyant with fund flow and received $13.4 billion from January to September 2014," said Archana Hingorani, CEO of IIML.

IIML, which manages assets of around $3.2 billion, has made more than 163 investments and seen through 96 exits since the time of its inception and claims a gross IRR of over 22 per cent in dollar terms.

(Edited by Joby Puthuparampil Johnson)

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