Private equity firm Blackstone on Tuesday sold 15 million shares (or 11.03%) in Tanla Platforms for ₹587 crore in open market transactions.
According to bulk deal data on BSE, Banyan Investments Ltd sold 15 million shares (or 11.03%) of Tanla Platforms for ₹391.30 apiece aggregating to ₹586.95 crore.
As per the latest shareholding pattern, Banyan Investments Ltd holds 16.17% stake in the firm.
Last year, Tanla Platforms Ltd completed the acquisition of Karix Mobile Pvt Ltd and its wholly-owned subsidiary Unicel Technologies Pvt Ltd from Banyan Investments Ltd, a company owned by funds affiliated with GSO Capital Partners L.P. for consideration of ₹340 crore. GSO is the credit arm of Blackstone.
Amansa Investments Ltd, American Funds Insurance Series A/c International Fund bought 3% and 6.32% stake in Tanla Platforms Ltd for ₹160 crore and ₹337 crore, respectively.
Tanla Platforms Ltd reported a net profit for the second quarter ended September 2020 at ₹81.5 crore as against a net loss of ₹47.01 crore for the corresponding quarter of the previous year. Revenue stood at ₹583.2 crore, for the September quarter registering an increase of 19.7% year-on-year.
Shares of Tanla Solutions gained 5% to close at ₹415, while the benchmark index, Sensex rose 0.72% to close at 43,952.71 points on Tuesday on BSE.
