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Venture capital firm Nexus Venture Partners on Tuesday divested a 4.63 per cent stake in India Shelter Finance Corporation for₹ 425 crore through open market transactions.
US-based Nexus Venture Partners, through its affiliates -- Nexus Opportunity Fund II and Nexus Ventures III -- offloaded a total of 50 lakh shares, amounting to a 4.63 per cent stake in Gurugram-based India Shelter Finance Corp, as per the bulk deal data on the NSE.
The shares were disposed of in the price range of ₹850.85-850.88 apiece, taking the combined deal value to ₹425.45 crore.
After the latest transaction, Nexus Venture Partners' holding in India Shelter Finance Corp has come down to 10.62 per cent from 15.25 per cent.
Meanwhile, Kotak Mahindra Mutual Fund (MF) purchased 45.28 lakh shares or a 4.2 per cent stake in India Shelter for ₹385 crore.
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As per the data, the shares were picked up at an average price of ₹850.87 apiece on the exchange.
Details of the other buyers of India Shelter's shares could not be ascertained on the NSE.
India Shelter Finance Corp's shares slipped 0.23 per cent to close at ₹880 apiece on the NSE.
In a separate bulk deal on the BSE, SBI Mutual Fund bought 1.8 million shares or 0.57 per cent stake in Coimbatore-based Elgi Equipments for ₹96 crore.
The shares were acquired at an average price of ₹532 apiece.
Details of the sellers of Elgi Equipments' shares could not be identified on the BSE.
SBI MF's holding in Elgi Equipments rose to 3.78 per cent from 3.21 per cent.
Shares of Elgi Equipments went up marginally to end at ₹534.15 apiece on the BSE.
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