WestBridge Capital Offloads 1.2% Stake In IndiaMART For Rs 190 Cr
The shares were sold at an average price of Rs 2,601 each, amounting to a total deal size of Rs 189.87 crore, according to media reports
Private equity firm WestBridge Capital sold a 1.2 per cent stake in IndiaMART InterMESH for Rs 190 crore through open market transactions on Friday, according to media reports.
WestBridge Capital, via its affiliate WestBridge Crossover Fund LLC, offloaded 7.3 lakh shares of the online B2B marketplace in two separate block deals on the BSE. As per media reports, the shares were sold at an average price of Rs 2,601 each, amounting to a total deal size of Rs 189.87 crore.
The buyers, SBI Mutual Fund and Morgan Stanley Asia (Singapore), purchased the shares at the same price. Following the transaction, IndiaMART InterMESH shares rose 1.25 per cent to close at Rs 2,648.80 on the BSE.
