Notes on Indian equities, sectors and economy

Blackstone throwing in the towel at Gokaldas

Posted by fairval on December 9, 2014

Earlier this month, Blackstone again sold some of its holding at Gokaldas Exports with a big haircut. According to a media article: Private equity giant Blackstone has sold 4.5 per cent stake in Gokaldas Exports for Rs 10.48 crore ($1.7 million), having lost around 75 per cent or three fourth of the original investment in the process. It had sold a chunk a few months ago as well, again at a big loss.

This investment hasn’t worked for Blackstone from day one. 9 out of 10 analysts in the market would have said it won’t work. This blog said the same in a post in Aug’2007 (wow! its an old blog now) —  Blackstone gambles on Gokaldas

Sometimes the majority is right. Blackstone thought it knew better, but not this time.


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