Clearwater Capital sells 16.5% in Jamna Auto for Rs 77-cr

Private equity firm Clearwater Capital Partners today divested 16.5 per cent stake in auto component maker Jamna Auto Industries for about Rs 77 crore through open market transactions.
Clearwater Capital Partners has sold a total of 65.50 lakh shares, amounting to 16.48 per cent, of the Delhi-based firm, according to the bulk deals data available with the stock exchanges.
About 50 lakh shares were offloaded on an average price of Rs 116.85, while 15.50 lakh scrips were sold on an average price of Rs 118.06. These valued the transaction at Rs 76.72 crore.
As of September quarter, Clearwater Capital Partners held about 28 per cent in the company through Clearwater Capital Partners (Cyprus) Ltd and Clearwater Capital Partners Singapore Fund III Pvt Ltd.

Jamna Auto manufactures different kinds of Springs for vehicles and claims a market share of about 65 per cent.
Shares of Jamna Auto Industries today dropped by 1.51 per cent to close at Rs 123.60 apiece on the BSE.