(Reuters) -U.S.-based private equity investor Advent International’s affiliate Jomei Investments has exited its entire 2% equity stake in India’s Aditya Birla Capital, exchange data showed on Tuesday.
Jomei sold 53.2 million shares in the Indian financial services firm for 308 rupees per share, valuing the sale at 16.39 billion rupees ($186.47 million), according to Reuters calculations.
Advent, which first invested in Aditya Birla Capital in 2020, said its affiliate sold its remaining stake in Aditya Birla Capital, marking a full exit of its investment.
During Advent’s investment period, Aditya Birla Capital strengthened its position as a leading diversified financial-services group, it said.
The floor price is at a discount of 0.9% to Aditya Birla’s Monday close of 310.75 rupees. The block deals took place during market hours on Tuesday, with the price at a 1.5% discount to Tuesday’s close.
($1 = 87.8950 Indian rupees)
(Reporting by Anuran Sadhu in Bengaluru; Editing by Krishna Chandra Eluri and Sonia Cheema)
