Latest News | Bessemer Venture Partners Pares 13.5 Pc Stake in Medi Assist for Rs 580 Crore

New Delhi, Sep 3 (PTI) California-based Bessemer Venture Partners on Tuesday pared 13.5 per cent stake in Medi Assist Healthcare Services for Rs 580 crore via open market transactions while Goldman Sachs, Morgan Stanley and Societe Generale (SocGen) picked up stakes in the company.

Promoter Bessemer Venture Partners through its arm Bessemer India Capital Holdings II offloaded 94,90,258 shares or 13.5 per cent stake in Medi Assist Healthcare Services, as per the block deal data on the National Stock Exchange (NSE).

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The shares were sold at an average price of Rs 611.70 apiece, taking the transaction value to Rs 580.52 crore.

Novo Holdings A/S, a public shareholder, also sold 5 lakh shares of Medi Assist Healthcare Services at the same price, as per the NSE data.

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After the latest transaction, Bessemer Venture Partners' stake in Medi Assist Healthcare Services has come down to 15.72 per cent from 29.22 per cent.

These shares were acquired by Invesco Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Aditya Birla Sun Life Insurance, Citigroup Global Markets Mauritius, Goldman Sachs, Morgan Stanley, Capital Group, SocGen and SBI Life Insurance were among the buyers of Medi Assist Healthcare Services' shares.

On Tuesday, shares of Medi Assist Healthcare Services fell 1 per cent to close at Rs 611.70 apiece on the NSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)