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Baring acquires 12% stake in Sharekhan

Baring Private Equity has acquired 12 per cent stake in Mumbai-based brokerage firm Sharekhan in a deal worth Rs 240 crore, reports Economic Times. The deal values the brokerage company at Rs 2,000 crore.

Baring Private Equity has acquired 12 per cent stake in Mumbai-based brokerage firm Sharekhan in a deal worth Rs 240 crore, reports Economic Times. The deal values the brokerage company at Rs 2,000 crore.

Last year, Citigroup Venture Capital (CVC) and Infrastructure Development Finance Company (IDFC) had together invested around Rs 650 crore to acquire 75 per cent and 10 per cent stake in Sharekhan respectively.

The latest transaction is through a secondary sale by the largest shareholder of the brokerage firm CVC whose stake in Sharekhan has now come down to 63 per cent from 75 per cent.

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