Indus Tower: U.S.-Based Artisan Partners Pares Stake For Rs 717 Crore
The company last week saw one foreign portfolio investor exit and another pare stake through open market transactions at a loss of over Rs 2,200 crore.
U.S.-based investment firm Artisan Partners has pared its stake in Indus Tower Ltd. for Rs 717.3 crore through open market transactions on Wednesday.
Artisan International Value Fund offloaded 3.33 crore shares of the telecom infrastructure services provider at Rs 215.1 apiece, according to bulk deal data on the BSE. The sale represents 1.23% equity.
The buyers could not be ascertained.
The fund house held 1.71% stake in Indus Tower, as of December 2023.
The company last week saw one foreign portfolio investor exit and another pare stake through open market transactions 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 1.92% higher at Rs 225.5 apiece on Wednesday, as compared with a 0.05% decline in the BSE Sensex.
