The PE firm managed to arrest the slide in its returns by averaging out the cost of its ownership through the rights issue and the participatory note investment, the person added. In July, it sold another large chunk of shares in Gokaldas Exports. Blackstone had invested in Gokaldas around the same time it bet on NCC, in , just months before the stock market tanked. For Blackstone, which struck acquired Early last year, it had also sold a stake in auto parts firm Agile Electric.
All these were profitable exits for the PE firm. NCC, once a hot company in the infrastructure construction sector, had suffered from the slowdown in the economy. ChrysCap exited the firm last year. While the firm has grown its revenue three-fold since Blackstone invested, its earnings remain low. The firm ended with revenue of Rs 9, crore and a net profit of Rs This compares with revenue of Rs 3, crore and a net profit of Rs NCC would receive a net amount of Rs Like this report?
Blackstone exits construction firm NCC. Log in Keep me signed in. Get New Password. Home General General. By Ranjani Raghavan. Photo Credit: Thinkstock. Leave Your Comment s. Top Stories Editor's Pick Finance.
Laminates maker Merino hires investment bank for pre-IPO round. Quadria Capital backed pharma firm to acquire distressed bulk drugs maker. Adar Poonawalla owned firm to buy controlling stake in non-bank lender Magma Fincorp. Market Calendar. Stock Price Quotes. Markets Data. Market Moguls. Expert Views. Technicals Technical Chart. Commodities Views News. Forex Forex News. Currency Converter. More Sitemap Definitions. Font Size Abc Small. Abc Medium. Abc Large. The shares were sold at an average price of Rs apiece, valuing the transaction at Rs Also, ETMarkets.
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Leave Your Comment s. Top Stories Editor's Pick Finance. Laminates maker Merino hires investment bank for pre-IPO round. Quadria Capital backed pharma firm to acquire distressed bulk drugs maker. Adar Poonawalla owned firm to buy controlling stake in non-bank lender Magma Fincorp.
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