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

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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