U.S.-based private investment firm Bain Capital on Tuesday divested a 2.8% stake in L&T Finance Holdings Ltd. for Rs 910 crore through open market transactions.
Axis Mutual Fund, DSP Blackrock Mutual Fund, Bajaj Allianz Life Insurance Company, SBI Life Insurance Company, Lakshmi Capital Investments, Key Square Master Fund LP and BNP Paribas Arbitrage were the buyers of shares of L&T Finance Holdings, the block deal data showed on the BSE.
Bain Capital through its investment vehicles, BC Asia Growth Investments and BC Investments VI Ltd offloaded the shares of L&T Finance Holdings.
As per block deal data available with the BSE, BC Asia Growth Investments and BC Investments VI Ltd offloaded a total of seven crore shares in eight tranches, amounting to a 2.8% stake in L&T Finance Holdings.
The shares were sold at an average price of Rs 130 apiece, taking the combined transaction value to Rs 910 crore.
After the transaction, Bain Capital's combined shareholding through its investment vehicles -- BC Asia Growth Investments and BC Investments VI Ltd has declined to 1.24% from 4.04% stake.
On Tuesday, shares of L&T Finance Holdings fell 2.95% to close at Rs 126.80 apiece on the BSE.
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