New Delhi: Goldman Sachs subsidiary Xenok and Mauritius-based GS Mace Holdings have together sold over 2.09% stake in Max-Ventures and Industries.
“We wish to inform that our holdings have decreased to 6,058,216 shares, representing 11.345% of the capital of the company as at August 25,2016. As such we are a substantial shareholder of the company,” GS Mace Holdings Ltd said in a regulatory filing.
Xenok and GS Mace together held 13.45% before selling the stake in Max-Ventures. Their individual stakes were—Xenok 8.88% and GM Mace 4.57%. After the stake sale, Xenok now has 7.155 and GC Mace over 4.19% in the target company. The stake sale happened through open market sale on 25 August 2016, it said in the regulatory filing.
GC Mace compiles business data about US-based companies while Xenok is a wholly-owned subsidiary of Goldman Sachs Capital Partners VI Fund. The then Max India had alloted 24,079,700 shares, representing about 9.4% stake in Xenok Ltd in June 2011. Max India demerged into three separate companies in January this year. The three demerged entities are Max-Ventures, Max Financial Services, and Max India Ltd. Max-Ventures shares closed 1.57% down at Rs.56.25 on BSE.
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Source: Mint
