Indus Tower Ltd. saw one foreign portfolio investor exit and another pare stake through open market transactions on Thursday, at a loss of over Rs 2,200 crore.
Singapore-based Silver View Portfolio Investments, an arm of KKR & Co., divested its entire 4.85% stake for Rs 2,749.6 crore—a loss of 35% on its May 2017 investment of Rs 4,251 crore in the telecom infrastructure services provider.
The firm offloaded 13 crore shares at Rs 210.21 apiece, according to bulk deal data on the BSE.
The Canada Pension Plan Investment Board sold 5.76 crore shares, or 2.13% equity, for Rs 1,223.4 crore. This represents a 37% loss on its Rs 1,965 crore investment in 2017.
The shares were offloaded at Rs 212.15 apiece. The firm held 2.19% stake in Indus Tower as of December.
In 2017, Bharti Airtel Ltd. divested 10.3% stake in Indus Towers (previously Bharti Infratel) to a consortium of investors, which included CPPIB and KKR.
Shares of Indus Tower closed 1.35% lower at Rs 219 apiece on Thursday, as compared with a 0.15% decline in the BSE Sensex.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
