New Delhi, May 30 (PTI) Private equity major TPG on Thursday divested its entire, 5 per cent stake in RR Kabel for Rs 958 crore through open market transactions.

US-based TPG through its affiliate TPG Asia VII SF Pte offloaded shares of RR Kabel in 21 tranches on the BSE.

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According to the block deal data available on the BSE, TPG Asia VII SF Pte sold 56,33,238 shares, amounting to a 4.99 per cent stake in RR Kabel.

The shares were disposed of at an average price of Rs 1,701.1 apiece, taking the deal size to Rs 958.27 crore.

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Mirae Asset Mutual Fund (MF), Tata MF, Edelweiss MF, HDFC Standard Life Insurance, Government Pension Fund Global, Societe Generale, Goldman Sachs, Morgan Stanley Asia Singapore, Citigroup Global Markets, and Blackstone were among the buyers of RR Kabel shares.

RR Kabel shares fell 0.06 per cent to close at Rs 1,717.15 apiece on the BSE.

(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)