Peak XV Partners, formerly Sequoia Capital India and SEA, on Friday, divested a little over 22 per cent stake in Indigo Paints to investors like Morgan Stanley, Mercer and HDFC MF for Rs 1,557 crore via open market transactions.
Venture capital firm Peak XV Partners through its two affiliates, Peak XV Partners Investments IV and Peak XV Partners Investments V, offloaded a total of 1.05 crore shares, amounting to a 22.04 per cent stake in Pune-headquartered Indigo Paints, as per the bulk deal data on the NSE.
The shares were sold in the price range of Rs 1,475.96-1,489.35 apiece, taking the transaction value to Rs 1,557.05 crore.
After the latest transaction, the shareholding of Peak XV Partners Investments IV has declined to 1.54 per cent from 12.14 per cent, while Peak XV Partners Investments V's stake has come down to 1.65 per cent from 13.09 per cent.
Meanwhile, HDFC Mutual Fund (MF) acquired 10.04 lakh shares or 2.11 per cent of Indigo Paints, New York-based consulting firm Mer
