20th Aug 2010 07:00
For Immediate Release
20 August 2010
Elephant Capital plc ("Elephant Capital")
Disposal of Investment
Further to its announcement on 16 February 2010, and subsequent disclosures in its 2010 Interim Financial Statements, Elephant Capital is pleased to announce that it has fully exited its investment in NIIT Ltd., achieving an IRR of over 23% across all shares sold.
The shares were purchased in two tranches in March and November 2008 at an aggregate cost of GBP 1.86mn. The aggregate realisation from the investment including dividends is GBP 2.68mn resulting in an income of GBP 0.82mn.
For further information please contact:
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Joanna Allen |
+91 (0) 11 4320 8000 |
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Elephant Capital plc |
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Nandita Sahgal / Tom Sheldon |
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Seymour Pierce Limited |
+44 (0) 20 7107 8000 |
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Mark Edwards / George Prassas |
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Buchanan Communications |
+44 (0) 20 7466 5000 |
Notes to editors:
Elephant Capital plc
Elephant Capital plc (previously named Promethean India plc) was launched in April 2007 as an AIM listed fund. The fund invests in private and public equity investments in India and is advised by an India-based advisory team. Eight investments have been made to date across a range of sectors including Hospitality, Automotive, Education, Building Materials, Mobile Banking Services, Online Media, Broadcasting and Children's Media and Clinical Research.
Related Shares:
ECAP.L