Latest News | Private Equity Firm TPG Offloads Five-Star Business Finance Shares for Rs 425 Cr

New Delhi, Apr 9 (PTI) Private equity firm TPG Inc on Tuesday sold shares of non-banking financial company Five-Star Business Finance for Rs 425 crore through an open market transaction.

US-based TPG Inc through its affiliate TPG Asia VII SF Pte offloaded 56.54 lakh shares of Five-Star Business Finance through a bulk deal on the National Stock Exchange (NSE).

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As per the data on the NSE, TPG Asia VII SF Pte sold 56,54,972 shares, amounting to a 1.9 per cent stake in Five-Star Business Finance.

The shares were disposed of at an average price of Rs 752.02 apiece, taking the deal value to Rs 425.26 crore.

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After the latest transaction, TPG Asia VII SF Pte shareholding has declined to 9.29 per cent from 11.22 per cent stake (as of December 2023).

Details of the buyers could not be ascertained.

On Tuesday, shares of Five-Star Business Finance fell 1.64 per cent to close at Rs 748 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)