Investcorp, a global alternative investment firm, has successfully completed its investment in Safari Industries, a leading luggage brand in India, with impressive results. Here are the key details of this investment journey:
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Investment and Returns: Investcorp invested Rs 75 crore in Safari Industries in February 2021. The firm’s strategic approach and collaboration with Safari Industries resulted in a remarkable Internal Rate of Return (IRR) of 102 percent.
Return on Investment: Investcorp achieved a total return of Rs 285 crore from its Safari Industries venture. This translates to a significant 3.8x multiple on Invested Capital (MOIC), demonstrating the success of the investment.
Partial Exits: Investcorp executed partial exits from Safari Industries in three tranches, culminating in this final and highly successful exit.
Facilitating Growth: During the partnership, Investcorp played a pivotal role in facilitating Safari Industries’ growth and expansion initiatives. The company increased its production capacity and expanded its physical stores into new and underserved markets across India.
Investcorp’s Commitment: Gaurav Sharma, head of private equity India at Investcorp, highlighted the firm’s commitment to investing in companies with strong growth potential. He acknowledged the rewarding journey and partnership with Safari Industries.
Safari Industries CEO: Sudhir Jatia, the chief executive and managing director of Safari Industries, expressed gratitude for Investcorp’s support and partnership, attributing it to the company’s success and growth.
Other Exits: This successful exit from Safari Industries follows Investcorp’s exit from ASG Eye Hospital, a prominent eye care hospital chain, in September 2022. Investcorp strategically sold its shareholding as part of a growth capital funding round.
Investcorp’s Portfolio: Over the past four years, Investcorp has invested in various companies in India, including V-Ensure, NDR Warehousing, Intergrow Brands, Bewakoof.com, Freshtohome, Zolo, InCred, Citykart, NephroPlus, Unilog, XpressBees, and Safari Industries. These investments have consistently driven growth and value in Investcorp’s portfolio.
Stock Performance: Following this successful exit announcement, shares of Safari Industries (India) Ltd ended at Rs 3,809.00, up by Rs 72.00, or 1.93 percent, on the Bombay Stock Exchange (BSE).
Investcorp’s strategic approach and active involvement in its portfolio companies have yielded substantial returns and solidified its position as a successful global alternative investment firm.
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