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

Advertisements

Quick Links

Market News

Sensex ends above 27,900 amid volatile session

Provisionally, the Sensex gained 134.71 points to end at 27,944.06 and the Nifty rose 27.80 points to close at 8,448.80

Sangam (India) zooms over 50% in four days on stake hike by promoter

The stock is currently trading at its record high of Rs 125 and has rallied 54% from Rs 81 on May 19.

Sagar Cements surges after turnaround in Q4

The stock surged 16% to Rs 408 after reported net profit of Rs 21.70 crore in March quarter against loss of Rs 11.36 crore in the year ago ...

SBI pares early gains post Q4 results

The stock surged 5% to Rs 305 after reported 23% year on year jump in standalone net profit at Rs 3,742 crore in March quarter.

Markets hold gains amid firm global cues

Sensex has soared 214 points to trade at 28,023 levels while the Nifty has surged 55 points to quote at 8,476 mark

 

Back to Top