General Atlantic Picks Up Majority Stake In Hyderabad-Based Share Registry Karvy Computershare

US-headquartered private equity firm General Atlantic LLC has picked up a majority stake in Hyderabad-based share registry Karvy Computershare.

Reportedly, General Atlantic is paying around $240 million (Rs 1,529 crore) for an 83% stake.Karvy Group Founder C Parthasarathy will retain some stake and be chairman of the board. The deal is subject to regulatory approvals.

C Parthasarathy, Managing Director of Karvy Computershare said that “With the continued growth of the Indian asset management industry, there is significant opportunity for Karvy Computershare to support clients’ needs.” said C Parthasarathy, managing director of Karvy Computershare.

AZB & Partners acted for General Atlantic LLC and the team was led by Partners Ashwath Rau, Vaidhyanadhan Iyer and Divya Mundra along with Senior Associates Shivanand Nayak, Palaq Vora and Rutunjay Singh.

Shardul Amarchand Mangaldas advised Karvy Computershare and the team was led by Principal Associate Sayak Maiti.