India Alternatives part exits Transunion Cibil investment, raises Rs 340 cr from Khazanah

Khazanahs past bets in the finance and technology space in the country include IDFC, LT Finance and Fractal, as per the statement.

India Alternatives (IA), a private equity fund, on Tuesday announced a partial sale of its stake in leading credit information company Transunion Cibil to Malaysian sovereign wealth fund Khazanah Nasional Berhad for Rs 340 crore. It did not disclose the stake sold in the company, which is majority owned by Transunion, an American player in the same field.

IA, however, claimed that with the part exit from Transunion Cibil, it has striked a ''blockbuster exit for its first fund''. IA's other bets include NSDL, Brinton Pharmaceuticals and Seclore Technology, and had exited its investment in Gokaldas Intimatewear to Advent earlier, as per an official statement. The fund had invested in Transunion Cibil in 2015 and will continue to hold an undisclosed stake in the company even after the sale to Khazanah because of its belief in the future prospects for the company.

''Given the company's stellar past performance, resilient business model and an exemplary management, we are retaining a stake in Transunion Cibil to be a part of this exciting journey forward,'' Shivani Bhasin Sachdeva, founder and chief executive of IA, said. Khazanah's past bets in the finance and technology space in the country include IDFC, L&T Finance and Fractal, as per the statement.