Oman India Joint Investment Fund has successfully exited its stake in Kotak Mahindra Bank, realizing a 2X gain while positioning itself for future investments with a new larger fund.
Target Information
The Oman India Joint Investment Fund (OIJIF) has completed the divestment of its entire stake in Kotak Mahindra Bank Ltd for over Rs 120 crore. This exit marks a significant milestone for OIJIF, which had previously invested Rs 65 crore in ING Vysya in 2013. Following Kotak Mahindra Bank's acquisition of ING Vysya in 2015, OIJIF transitioned its investment into shares within Kotak Mahindra Bank.
Srinath S., the CEO of OIJIF, stated, 'We have completely exited our position in Kotak Mahindra Bank, which resulted in a 2X gain for us.' This divestment from Kotak Mahindra Bank stands as OIJIF's third exit from its investment portfolio, reflecting a successful strategy in capitalizing on substantial market opportunities.
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Industry Overview
The Indian banking sector has experienced considerable growth over recent years, driven by strong economic fundamentals and increasing consumer demand for financial services. The sector is witnessing significant
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Oman India Joint Investment Fund
invested in
Kotak Mahindra Bank Ltd
in 2015
in a Other Private Equity deal
Disclosed details
Transaction Size: $14M
Equity Value: $14M