Private equity major Apax Partners on Friday offloaded 2.14 per cent stake in non-bank lender Shriram Finance via block deals.
Dynasty Acquisition, an affiliate firm of the PE player, sold close to 8 million shares at Rs 1,300 apiece for a total of Rs 1,040 crore.
Prior to the stake sale, Apax held 4.63 per cent stake in the Chennai-based firm.
FID Funds picked up shares worth Rs 862 crore. ICICI Prudential Life, Norges Bank, and Societe Generale were among the other buyers block deal data released by exchanges showed. Shares of Shriram Finance fell 2.2 per cent to close at Rs 1,283.
Source: Business-Standard