Private equity firm Lighthouse Advisors has divested a 2 per cent stake in value retail chain V2 Retail for͏͏ INR͏͏ 85͏͏ crore͏͏ through͏͏ an͏͏ open͏͏ market͏͏ transaction,͏͏ while͏͏ Motilal͏͏ Oswal͏͏ Mutual͏͏ Fund͏͏ has͏͏ acquired͏͏ shares͏͏ in͏͏ the͏͏ company.
Transaction͏͏ Details:
Mumbai-based͏͏ Lighthouse͏͏ Advisors,͏͏ via͏͏ its͏͏ affiliate͏͏ India͏͏ 2020͏͏ Fund͏͏ II͏͏ Ltd.,͏͏ sold͏͏ over͏͏ 7.34͏͏ lakh͏͏ shares,͏͏ representing͏͏ a͏͏ 2.12͏͏ per͏͏ cent͏͏ stake͏͏ in͏͏ V2͏͏ Retail,͏͏ according͏͏ to͏͏ block͏͏ deal͏͏ data͏͏ from͏͏ the͏͏ NSE.
The͏͏ shares͏͏ were͏͏ sold͏͏ at͏͏ an͏͏ average͏͏ price͏͏ of͏͏ INR͏͏ 1,160͏͏ each,͏͏ bringing͏͏ the͏͏ total͏͏ transaction͏͏ value͏͏ to͏͏ INR͏͏ 85.23͏͏ crore.
Following͏͏ the͏͏ stake͏͏ sale,͏͏ Lighthouse͏͏ Advisors’͏͏ holding͏͏ in͏͏ V2͏͏ Retail͏͏ has͏͏ decreased͏͏ to͏͏ 4.24͏͏ per͏͏ cent͏͏ from͏͏ 6.36͏͏ per͏͏ cent.
Continue͏͏ Exploring:͏͏ V2 Retail’s͏͏ Q1͏͏ revenue͏͏ surges͏͏ 57%͏͏ to͏͏ INR͏͏ 414͏͏ Cr
Motilal͏͏ Oswal͏͏ Mutual͏͏ Fund’s͏͏ Acquisition:
Motilal͏͏ Oswal͏͏ Mutual͏͏ Fund͏͏ acquired͏͏ these͏͏ shares͏͏ at͏͏ the͏͏ same͏͏ price,͏͏ according͏͏ to͏͏ data͏͏ from͏͏ the͏͏ National͏͏ Stock͏͏ Exchange͏͏ (NSE).
V2͏͏ Retail͏͏ shares͏͏ surged͏͏ 5͏͏ per͏͏ cent,͏͏ closing͏͏ at͏͏ INR͏͏ 1,223.70͏͏ each͏͏ on͏͏ the͏͏ NSE.
In͏͏ a͏͏ separate͏͏ transaction͏͏ on͏͏ the͏͏ BSE,͏͏ SBI͏͏ Mutual͏͏ Fund͏͏ acquired͏͏ 3.72͏͏ lakh͏͏ shares,͏͏ representing͏͏ a͏͏ 2.3͏͏ per͏͏ cent͏͏ stake͏͏ in͏͏ Alicon͏͏ Castalloy,͏͏ for͏͏ INR͏͏ 48͏͏ crore͏͏ through͏͏ an͏͏ open͏͏ market͏͏ transaction.
The͏͏ shares͏͏ were͏͏ purchased͏͏ at͏͏ an͏͏ average͏͏ price͏͏ of͏͏ INR͏͏ 1,300͏͏ each,͏͏ bringing͏͏ the͏͏ total͏͏ deal͏͏ value͏͏ to͏͏ INR͏͏ 48.41͏͏ crore.
Rajeev͏͏ Sikand͏͏ and͏͏ the͏͏ promoter͏͏ entity͏͏ of͏͏ Alicon͏͏ Castalloy͏͏ collectively͏͏ sold͏͏ 3.59͏͏ lakh͏͏ shares͏͏ of͏͏ the͏͏ company͏͏ at͏͏ the͏͏ same͏͏ price.
The͏͏ identities͏͏ of͏͏ other͏͏ sellers͏͏ of͏͏ Alicon͏͏ Castalloy’s͏͏ shares͏͏ could͏͏ not͏͏ be͏͏ determined͏͏ on͏͏ the͏͏ BSE.
On͏͏ Monday,͏͏ shares͏͏ of͏͏ Alicon͏͏ Castalloy͏͏ declined͏͏ 2.47͏͏ per͏͏ cent,͏͏ closing͏͏ at͏͏ INR͏͏ 1,337.90͏͏ apiece͏͏ on͏͏ the͏͏ BSE.
