PE firm DEG sells shares worth over Rs 222 cr in Equitas

The Germany-based firm sold 1,45,64,471 shares at Rs 153 each to Cinnamon Capital

Deutsche Investitions-und Entwicklungsgesellschaft MBH (DEG) has sold a majority of its shares for a price little over Rs 222 crore in Equitas Holdings. 

DEG is the private equity arm of Germany's KfW Bankengruppe specialising in direct and fund-of-funds investments.

According to BSE bulk details data, the PE firm sold 1,45,64,471 shares at Rs 153 each who's total value is Rs 222.8 crore.

According to the company filing by the end of March 31, 2017, the investor had 1,45,64,521 shares in the company, which was about 4.3 per cent of the total equity share of the company.

Cinnamon Capital bought 1,45,34,858 shares in Equitas at Rs 153.