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KKR sells 5.6% in Dalmia Bharat for Rs 575 cr

The shares were sold on an average price of Rs 2,047.5

Press Trust of India  |  New Delhi 

Photo: Shutterstock
Photo: Shutterstock

Global private equity giant on Friday sold 5.6 per cent stake in for an estimated Rs 575 crore through an open market transaction.

The shares were purchased by a host of entities, including Kuwait Investment Authority, and

According to block deal data available with stock exchanges, Mauritius Cement Investments offloaded a total of 49,65,270 shares, amounting to 5.58 per cent stake, of

The shares were sold on an average price of Rs 2,047.5, valuing the transaction at Rs 574.86 crore, it added.

In January 2016, had announced that it signed a pact with to acquire the global private equity giant's 15 per cent stake in its subsidiary Dalmia Cement Bharat Ltd for over Rs 1,218 crore in a cash-and-stock deal.

The deal had earned the private equity player a return of 2.4 times on its investment of Rs 500 crore it made in September 2010.

The stock of Dalmia Bharat on Friday closed at Rs 2,048.95 on BSE, down 1.74 per cent from the previous close.

First Published: Fri, April 21 2017. 20:22 IST