Business Standard

Warburg Pincus exits Kotak Mahindra Bank

Related News

US private equity firm on Monday exited its more than seven-year-old investment in through a bulk deal.

and Melany Holdings, sub accounts of Warburg Pincus, sold 26.5 million shares in a bulk deal on the Bombay Stock Exchange (BSE) for Rs 530 a share. The transaction value was Rs 1,406 crore. The shares represent about 3.6 per cent of the bank, data compiled by Bloomberg show.

Geneses Emerging Markets Investments and Genesis Group Trust for Employee Benefit Plan bought 13.7 million shares, according to the bulk deal data.

Kotak, founded by billionaire Uday Kotak, gained 26 per cent this year in Mumbai trading, in line with gains for the 14-lender India Bankex Index. The stock rose 1.1 per cent to Rs 531.15 on Monday on the BSE.

Warburg, which first invested in Kotak in November 2004, sold a 3.3 per cent stake in the lender on February 1, according to an exchange filing.

Last month, Citigroup exited a seven-year investment in Housing Development Finance Corp (HDFC) through a $1.9-billion stake sale.

Warburg Pincus affiliates have invested $3 billion in Indian companies in sectors including manufacturing, infrastructure and technology.

Read more on:   
|
|
|
|
|

Warburg Pincus exits Kotak Mahindra Bank

US private equity firm Warburg Pincus on Monday exited its more than seven-year-old investment in Kotak Mahindra Bank through a bulk deal.

US private equity firm on Monday exited its more than seven-year-old investment in through a bulk deal.

and Melany Holdings, sub accounts of Warburg Pincus, sold 26.5 million shares in a bulk deal on the Bombay Stock Exchange (BSE) for Rs 530 a share. The transaction value was Rs 1,406 crore. The shares represent about 3.6 per cent of the bank, data compiled by Bloomberg show.

Geneses Emerging Markets Investments and Genesis Group Trust for Employee Benefit Plan bought 13.7 million shares, according to the bulk deal data.

Kotak, founded by billionaire Uday Kotak, gained 26 per cent this year in Mumbai trading, in line with gains for the 14-lender India Bankex Index. The stock rose 1.1 per cent to Rs 531.15 on Monday on the BSE.

Warburg, which first invested in Kotak in November 2004, sold a 3.3 per cent stake in the lender on February 1, according to an exchange filing.

Last month, Citigroup exited a seven-year investment in Housing Development Finance Corp (HDFC) through a $1.9-billion stake sale.

Warburg Pincus affiliates have invested $3 billion in Indian companies in sectors including manufacturing, infrastructure and technology.

image

Read More

IABF to close $120-mn fund this year

India Agri Business Fund (IABF), a $120- million equity fund instituted in 2008 for which Rabo Equity Advisors is an investment advisor, is planning ...

Recommended for you

Quick Links

Market News

Nickel rises by 0.1% on Asian cues

Traders strengthened positions amid a firming Asian cues

Oil prices rise further in Asia

Expectations of a decline in US crude inventories and robust economic data from the eurozone helped prices

Markets remain rangebound; HUL up over 2%, Hindalco dips 1%

Investors are optimistic about a possible solution between Greece and its international creditors to avert a debt crisis

Pharma shares in focus; Aurobindo Pharma hits new high

JB Chemicals, Alembic Pharma, Aurobindo Pharma, Ipca Laboratories and Dishman Pharma were up 3%-11% each.

Infinite Computer gains on board approval for share buyback proposal

The stock spurted 5% at Rs 171 after the board approved the buyback of shares at a maximum price of Rs 220 per share from the open market ...

 

Back to Top