Peak XV Partners Exits Indigo Paints, Sells 3.18% Stake For Rs 158 Crore
The shares were sold at an average price of Rs 1,046.45 apiece.
Venture capital firm Peak XV Partners has fully exited Indigo Paints, selling its entire 3.18% stake for Rs 158 crore through open market transactions on Friday.
Peak XV Partners, previously known as Sequoia Capital India & SEA, is a prominent venture capital and growth investment firm with investments across India, Southeast Asia, and other regions.
According to block deal data on the NSE, Peak XV Partners' affiliates, Peak XV Investments IV and Peak XV Investments V, sold a total of 7.28 lakh and 7.85 lakh shares of Indigo Paints, respectively. This combined sale represents the firm's entire 3.18% holding in the paint company.
The shares were sold at an average price of Rs 1,046.45 apiece, bringing the total transaction value to Rs 158.39 crore. Concurrently, Kotak Mahindra Mutual Fund acquired the same number of shares at the identical price on the National Stock Exchange.
Shares of Indigo Paints closed 2.1% higher at Rs 1,079.15 per piece on Friday on the NSE.
(With inputs from PTI)
