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
- Pakistani family sentenced to death over "honour killing" outside court
- Alumnus dead after opening fire at Florida State University, wounding 3 |
- Mike Nichols, award-winning American director, dies at 83
- UPDATE 2-Doctor who treated source of second Mali Ebola outbreak dies
- Mike Nichols, award-winning American director, dies at 83 |
Kotak Mahindra Bank has agreed to buy ING Vysya in an all-share deal valuing its smaller rival at $2.4 billion, bulking up as analysts predict the start of long-awaited consolidation in a crowded banking sector. Full Article
U.S. court overturns bid by Ranbaxy to block launch of rival generic drugs. Full Article
Tech Mahindra to buy U.S.-based network services operator for $240 million Full Article
Infosys unit's overbilling Apple led to exit of top execs - sources. Full Article