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Investcorp reaps huge gains on stake sale in India’s Safari

By Pramod Kumar
Safari Industries
During Investcorp’s ownership period, Safari Industries increased its production capacity and expanded its physical store footprint

Investcorp, a Bahrain-based alternative investment firm, has exited its investment in Indian luggage maker Safari Industries.

The company invested INR750 million ($10.36 million) in Safari Industries in February 2021. 

During Investcorp’s ownership period, Safari Industries increased its production capacity and expanded its physical store footprint in new and under-served markets in the South Asian country. 

The Bahraini company exited its stake in three tranches over the last 12 months, realising a total return of INR2.85 billion on invested capital from the investment.

In September 2022, Investcorp exited an Indian eyecare hospital chain, ASG Eye Hospital, selling its stake in a funding round of INR15 billion, one of India’s biggest private equity fund raising rounds in the eye care space.

Investcorp is an active investor in mid-market companies across consumption-linked sectors and the real estate business in India. 

The company targets opportunities across the consumer tech, healthcare, financial services, retail, SaaS, e-commerce, and technology sectors in the private equity segment. 

Its investments over the last four years include V-Ensure, NDR Warehousing, Intergrow Brands, Bewakoof.com, Freshtohome, Zolo, InCred, Citykart, NephroPlus, Unilog, XpressBees, and Safari Industries.

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