Latest News | PE Firm Exits Shriram Properties; Sells Entire Stake for Rs 134 Cr
Get latest articles and stories on Latest News at LatestLY. Private equity firm WSI WSQI V Mauritius Investors on Friday divested its entire 14.27 per cent stake in Shriram Properties for Rs 134 crore through an open market transaction.
New Delhi, Mar 31 (PTI) Private equity firm WSI WSQI V Mauritius Investors on Friday divested its entire 14.27 per cent stake in Shriram Properties for Rs 134 crore through an open market transaction.
WSI WSQI V (XXXII) Mauritius Investors is an affiliate company of Walton Street Capital.
The entire stake was acquired by Aurum Realestate Developers, as per the block deal data available on the National Stock Exchange (NSE).
WSI WSQI V Mauritius Investors sold more than 2.42 crore shares at an average price of Rs 55.05 apiece, aggregating to Rs 134 crore.
All these shares were acquired by Aurum.
As of the December quarter, WSI WSQI V Mauritius Investors held more than 2.42 crore shares, equivalent to a 14.2 per cent stake in Bengaluru-based Shriram Properties.
Realty firm Shriram Properties was listed on both exchanges in December 2021, after it successfully launched Rs 600-crore initial public offering (IPO).
Shriram Properties Ltd, which is part of the Shriram Group, is one of South India's leading residential real estate development companies, primarily focused on the mid-market and affordable housing categories.
It mainly has projects in Bangalore, Chennai and Kolkata.
The company has completed 36 projects with a saleable area of 20.6 million square feet, mostly in Bengaluru and Chennai.
It has a strong development pipeline, comprising 51 projects with an aggregate development potential of 53 million square feet, as of December 31, 2022.
Shares of Shriram Properties closed 8.30 per cent higher at Rs 60 per piece on the NSE. During the day, the stock touched an intra-day high of Rs 64.90 apiece on the bourse.
(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)