TPG raises $305 million from Shriram Transport share sale: source
MUMBAI (Reuters) - U.S. private equity firm TPG Capital has raised $305 million by selling about half of its stake in commercial vehicle financier Shriram Transport Finance Co Ltd(SRTR.NS), a source with direct knowledge of the matter said on Thursday.
TPG, which owned about 20 percent of Shriram Transport before the sale, sold the shares at 715 rupees each to a large number of overseas and domestic institutional investors, the source said.
The private equity firm had launched the share sale late on Wednesday in the price range of 715 rupees to 755.95 rupees per share, according to a term sheet seen by Reuters.
Shares in Shriram Transport were trading down 7.1 percent at 702.1 rupees at 1.16 p.m. while the Nifty was was down more than 1 percent.
(Reporting by Sumeet Chatterjee and Indulal P.M.; Editing by Jijo Jacob)
- Tweet this
- Share this
- Digg this
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Comedian Joan Rivers remains in serious condition at N.Y. hospital
- Exclusive: Reliance plans $13 billion projects including new refinery
- Ukraine seeks to join NATO; defiant Putin compares Kiev to Nazis
- Swedish carrier backs out as first Bombardier CSeries operator
India's economy grew by a faster-than-expected 5.7 percent in the three months through June, its fastest pace in two-and-a- half years, helped by a rebound in manufacturing and mining sectors, government data showed on Friday. Full Article
Exclusive: Reliance plans $13 billion projects including new refinery. Full Article
In race for bigger margins, drug makers willing to lose the India "advantage". Full Article