South India-based private equity firm TVS Capital exits DCB Bank

Photo: Freedigitalphotos.net, By Pixtawan, Image ID: 10084715

South India-based private equity firm TVS Capital Funds (TCF) has exited its three-year-old investment in DCB Bank Ltd, formerly Development Credit Bank Limited, the fund said in a statement.

TVS Shriram Growth Fund held an equity stake of 2.8% in the bank, valued at about Rs 80 crore ($12 million). “The fund has exited its investments in DCB Bank Ltd, earning an IRR in excess of 35% with mutiples of invested capital at 2.7 times,” its statement added.

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