Florintree Capital Partners, led by Mathew Cyriac, has exited its investment in Data Patterns (India) Ltd, selling its entire 10.71% stake worth about Rs 1,100 crore. The company has also received investments from Singapore s GIC, Mirae Mutual fund, HDFC Mutual Fund, and Kotak Mahindra Mutual Fund. Data Patterns, a defence and aerospace electronics solutions provider, has seen a 21x return in less than three years.
The issue closed on February 9 and was completely a fresh equity issue of Rs 600 crore. Ahead of the issue opening, the company raised Rs 180 crore from anchor investors, where White Oak Capital, Ashoka India, ICICI Prudential, Volrado Ventures among others invested.
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