Citi buys 14.5 percent of Globe Capital for Rs. 168 crores.
HT 20 Feb 2008
The PE arm of Citigroup, Citi Venture Capital International has picked up around 14.5 percent in the Delhi Based Glbe Capital for Rs. 168 crore($42 million). The company's total valuation comes to Rs. 1000 cr.
Ashok Aggarwal, chairman of Globe Capital said that the company will utilise the proceeds for expanding into the retail segment and margin financing.
Globe capital has reported a net profit of Rs. 70 cr on a gross income of Rs. 130 cr in the first nine months of 2007.
Promoters presently hold 75 per cent stake after the citi transaction.
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