India: PE firm Carlyle exits IIFL in Fairfax open offer

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US private equity firm Carlyle Group has fully exited its four-year-old investment in Mumbai-based financial services firm IIFL Holdings Ltd, formerly known as India Infoline Ltd, at a profit, according to a disclosure on its website.

The stake sale by Carlyle was a part of the recently concluded open offer by Canadian firm Fairfax India Holdings Corp, which saw latter acquiring additional 21.85 per cent stake in IIFL Holdings for nearly $200 million. Post open offer, Fairfax’s total shareholding in IIFL has increased to 30.72 per cent.

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