Carlyle ups stake in India Infoline

US private equity firm Carlyle increases its stake in Indian broker India Infoline to 9% and negotiates a board seat.

The Carlyle Group has increased its stake in India Infoline Group to 9% through secondary-market purchases. The US private equity firm did not disclose how much it has paid for the shares.

A Carlyle spokesperson confirmed that Carlyle had been accumulating shares since the summer. Based on the market price at which India Infoline shares have traded on the stock exchange this year, Carlyle would have shelled out around $50 million.

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