Advent International exits Crompton; sells entire 5.36% stake for Rs 1,348 cr
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Last Updated: Jun 09, 2021, 11:31 PM IST
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The shares were offloaded on an average price of Rs 400.4 apiece, valuing the transaction at Rs 1,348.06 crore, data showed.
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The shares were lapped up by over a dozen entities, including foreign investors, domestic mutual funds and insurance companies.
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Crompton Greaves Consumer Electricals for a little over Rs 1,348 crore through multiple open market transactions.
The shares were lapped up by over a dozen entities, including foreign investors, domestic mutual funds and insurance companies.
According to block deal data available with the BSE, Advent International Corp s Amalfiaco Ltd sold a total of 3,36,67,802 shares, amounting to a 5.36 per cent stake of Crompton.
US private equity Advent International has pared its holding further in Crompton Greaves Consumer Electricals. According to bulk deal data, Advent-owned Amalfiaco sold 6.06 per cent stake in CG Consumer in two equal tranches at Rs 392 per share and Rs 393 per share. This resulted in raising of Rs 1,492 crore from the transaction. Alongside, Societe Generale has picked up 0.62 per cent stake for Rs 153 crore. Meanwhile, identity of other buyers could not be ascertained. Investment banker said mutual funds and foreign portfolio investors were also among the buyers. Today, shares of CG Consumer ended at Rs 407 per share on BSE, down 0.45 percent from previous close.