Investcorp Bags 4x Gains, Hands Citykart Reins to TPG NewQuest and A91 Partners

Investcorp, the Middle East-based alternative asset manager, has fully exited its stake in value fashion retailer Citykart, selling its entire holding to TPG NewQuest and A91 Partners in a landmark transaction. The deal marks a pivotal moment for Citykart, which has simultaneously raised fresh capital to fuel its ambitious expansion plans across India’s tier-II and tier-III cities.

 

Key Highlights:

IPO Outlook: While an IPO is on the cards, Citykart’s leadership is prioritizing further revenue growth and profitability before considering a public listing.

 

Source: The Economic Times