TPG raises $305 million from Shriram Transport share sale: source

MUMBAI Thu Feb 21, 2013 1:17pm IST

Related Topics

Stocks

   

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Monetary Policy

Monetary Policy

Fed renews zero rate pledge, but hints at steeper rate hike path.  Full Article 

Eyeing Stocks

Eyeing Stocks

Interview - EPFO chief urges green light to buy stocks  Full Article 

Stimulus Reports

Stimulus Reports

China cenbank injects $81 bln into major banks to support economy - reports  Full Article 

Ranbaxy Investigation

Ranbaxy Investigation

Ranbaxy says U.S. authorities seek information on pricing data.  Full Article 

E-Commerce

E-Commerce

Tiger Global leads $60 million investment in Quikr.  Full Article 

Monsoon Update

Monsoon Update

Delayed retreat of monsoon rains to start this weekend  Full Article 

Financing Deal

Financing Deal

IndiGo agrees $2.6 billion aircraft finance deal with China's ICBC  Full Article 

Grim Outlook

Grim Outlook

Sony deepens loss estimate on struggling smartphone business  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage