Economy & Market
PE firm KKR sells entire stake in Dalmia Bharat
PE firm KKR has exited its investment in Dalmia Bharat by selling its entire 8.4 per cent stake in the company through the secondary market. KKR made Rs 1,534 crore by selling its equity to mutual funds and foreign portfolio investors like Smallcap World Fund, Franklin Templeton and Birla Mutual Fund. It has posted around 150 per cent return on the investment. KKR had originally invested in the company in 2010. The PE firm invested around Rs 750 crore ($165.59 million then) to buy a 21 per cent stake.