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Private equity firm Lighthouse Advisors on Monday divested a 2 per cent stake in value retail chain V2 Retail for Rs 85 crore via open market transaction, while Motilal Oswal Mutual Fund acquired shares of the company. The Mumbai-based Lighthouse Advisors through its affiliate India 2020 Fund II Ltd sold over 7.34 lakh shares, amounting to a 2.12 per cent stake in V2 Retail, as per the block deal data available on the NSE. The shares were offloaded at an average price of Rs 1,160 apiece, taking the transaction value to Rs 85.23 crore. After the stake sale, Lighthouse Advisors' holding in V2 Retail has come down to 4.24 per cent from 6.36 per cent. These shares were purchased by Motilal Oswal Mutual Fund at the same price, the data showed on the National Stock Exchange (NSE). Shares of V2 Retail jumped 5 per cent to end at Rs 1,223.70 apiece on the NSE. In a separate transaction on the BSE, SBI Mutual Fund purchased 3.72 lakh shares or 2.3 per cent stake in Alicon Castalloy for Rs
Private equity platform Lighthouse on Wednesday said it has invested Rs 284 crore in fashion and silver jewellery brand Kushal's. The money raised will be deployed for brand building, hiring people, technology and also scaling up the retail presence. The investment by Lighthouse India Fund IV AIF also includes a secondary purchase from India SME Investments. India SME Investments was the first institutional investor in Kushal's and is partially selling its holding through the deal, according to a statement. The company founded in 2006 retails its products through more than 75 stores across 25 cities in India and also online. Lighthouse Managing Director Anshul Jain said the company is organising the large, fragmented fashion jewellery market in India with its premium product range and added that fashion jewellery is becoming an integral part of people's lifestyle now. "As we gear up for the next leg of our growth, we look forward to their (Lighthouse) guidance and support, given t