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Baring Asia acquires 12% stake in ShareKhan for about Rs 200 crore

Baring Private Equity Asia has picked up 12 per cent stake in ShareKhan at a price that values the retail brokerage firm at Rs 1,700 crore, which is more than double its last year’s valuation of Rs 825 crore, reports Business Standard.

Baring Private Equity Asia has picked up 12 per cent stake in ShareKhan at a price that values the retail brokerage firm at Rs 1,700 crore, which is more than double its last year’s valuation of Rs 825 crore, reports Business Standard.

Baring Asia has acquired 10 per cent stake from Citigroup Venture Capital International (CVCI), the private equity arm of Citigroup in India, and 2 per cent through a convertible instrument from ShareKhan.

Last year, CVCI along with Infrastructure Development Finance Company had bought close to 76 per cent in ShareKhan for over Rs 620 crore. ShareKhan is now planning to launch an initial public offer during the current financial year (2008-09) for unlocking its value.

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