16th Feb 2010 07:00
For Immediate Release
16 February 2010
Elephant Capital plc ("Elephant Capital")
Partial Disposal of Investment
Elephant Capital is pleased to announce that it has sold 1.9m shares in NIIT Inc. ("NIIT") representing 74.6% of its entire holding in the company, and achieving an IRR in excess of 25%. The shares were purchased in two tranches in March and November 2008. Our residual holding in NIIT is 0.66m shares, representing a shareholding of 0.4%.
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 / Nicola Cronk |
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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. Six investments have been made to date across a range of sectors including Hospitality, Automotive, Education, Building Materials, Mobile Banking Services and Online Media and Broadcasting.
Related Shares:
ECAP.L