The private equity firm sold 1,59,93,734 shares on the BSE at Rs 1,300 apiece, aggregating to Rs 2,079 crore, bulk deals data showed.
The sale price was at a nearly 1% discount to Thursday’s closing price of Rs 1,312.65. On Friday, shares of Shriram Finance ended 2.2% down at Rs 1,283.20. On Thursday, news reports had said that Apax Partners is looking at FC exiting the NB .
On Thursday, reports were doing the rounds that Apax Partners is looking at exiting the NBFC company. Until Thursday, Apax Partners held 4.63% stake in Shriram Finance and was the single largest public shareholder.
Shares of the company have given over 13% returns in 2022, and have outperformed the benchmark Sensex which has gained more than 4% in the same period. Besides Apax Partners, TPG Capital is another foreign entity, holding 2.65% stake in Shriram Finance.
Among foreign portfolio investors, Chicago-based hedge fund Wishbone Fund holds 1.21% stake, JPMorgan owns 1.30% stake, and Government Pension Fund Global holds 1.84% stake.
Through separate deals, four foreign funds bought shares of Shriram Finance on Friday. Government Pension Fund Global raised its stake by acquiring 300,000 shares through a bulk deal. Further, bought 1,38,461 shares, Fidelity Funds Maocietius bought, 56, 66 Generale purchased 2,76,922 shares.
Post the sale by Apax Partners,
is the single largest public shareholder with a 4.4% stake. Among mutual funds, Mutual Fund and Mirae Asset Mutual Fund together hold 4.04% stake in Shriram Finance.
Two domestic funds
Life Insurance Co and Aditya Birla Sun Life Insurance Co bought 5,76,923 and 77,000 shares, respectively, through separate deals.
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