Enterprise capital agency Peak XV Companions by its two associates, Peak XV Companions Investments IV and Peak XV Companions Investments V, offloaded a complete of 1.05 crore shares, amounting to a 22.04 per cent stake in Pune-headquartered Indigo Paints, as per the majority deal information on the NSE.
The shares have been offered within the value vary of Rs 1,475.96-1,489.35 apiece, taking the transaction worth to Rs 1,557.05 crore.
After the newest transaction, the shareholding of Peak XV Companions Investments IV has declined to 1.54 per cent from 12.14 per cent, whereas Peak XV Companions Investments V’s stake has come right down to 1.65 per cent from 13.09 per cent.
In the meantime, HDFC Mutual Fund (MF) acquired 10.04 lakh shares or 2.11 per cent of Indigo Paints, New York-based consulting agency Mercer bought 3.18 lakh scrips of the chemical manufacturing firm and Morgan Stanley purchased 3.08 lakh shares of the agency. The shares have been picked up within the value vary of Rs 1,470-1,491.88 per piece, taking the mixed deal worth to Rs 240.65 crore, the information confirmed on the Nationwide Inventory Alternate (NSE). Particulars of the opposite consumers of Indigo Paints’ shares couldn’t be ascertained. Shares of Indigo Paints declined 4.19 per cent to shut at Rs 1,476 apiece on the NSE.
Peak XV Companions underwent a rebranding in 2023, altering its identify from Sequoia India to Peak XV Companions as a part of a broader restructuring of Sequoia Capital’s world operations.
Included in 2000, Indigo Paints is the fastest-growing among the many prime 5 paint corporations in India.
In a separate transaction on the NSE, Shriram Pistons & Rings promoters’ on Friday pared a 3 per cent stake within the firm for over Rs 289 crore by open market transactions.
In keeping with the block deal information on the NSE, Luv D Shriram and Meenakshi Dass offloaded 6.60 lakh shares every representing a mixed 3 per cent stake in Shriram Pistons & Rings.
The shares have been offered within the value vary of Rs 2,181.77-2,197.60 apiece, taking the deal dimension to Rs 289.25 crore.
Astral Indian Equities Fund I, DSP Mutual Fund (MF), East Lane Capital LLP, Tata MF and Theleme India Grasp Fund acquired the shares of Shriram Pistons & Rings on the identical value.
The scrip of Shriram Pistons & Rings rose 1.48 per cent to complete at Rs 2,229.95 apiece on the NSE.