Homegrown private equity firm India Alternatives on Monday said that it has sold part of its stake in TransUnion CIBIL Ltd (TUCIBIL) to Malaysian sovereign wealth fund Khazanah Nasional Berhad, for ₹340 crore, scoring a big exit from its first fund.
TransUnion CIBIL began operations in 2000 and is India’s leading credit information bureau. It extends multiple product offerings ranging from basic credit scoring to high-end predictive analysis.
India Alternatives invested in the company in 2015.
“Rapid digitization, the advent of new technology, and a clear shift in consumer behaviour augur well for steady credit growth in India. TUCIBIL continues to be the preferred bureau for credit information and has been a valuable partner to India Alternatives. Having established itself as a one-stop provider of holistic credit information solutions to lenders, TUCIBIL is poised to take advantage of the continued upswing in credit,” said Shivani Bhasin Sachdeva, founder and CEO of India Alternatives.
“Given the Company’s stellar past performance, resilient business model and an exemplary management, we are retaining a stake in TUCIBIL to be a part of this exciting journey forward,” she added.
India Alternatives’ other investments include companies such as National Securities Depository Ltd, a depository services company; Brinton Pharmaceuticals, dermatology-focused pharmaceutical companies and Seclore Technology, which is involved in the information rights management space.
Last year, India Alternatives exited its stake in lingerie maker Gokaldas Intimatewear (Enamor) to Advent.
Spark Capital was the exclusive financial advisor to India Alternatives.
“The transaction outcome despite the turbulent times for the credit market is a testament to the strength of the CIBIL brand and franchise. TUCIBIL’s leadership in credit information and analytics will continue to be the cornerstone for all lenders in a credit-starved market,” said Skanda Jayaraman, managing director and head – investment banking at Spark Capital.
