TPG Exits RR Kabel, Sells Entire Stake for Rs 958 Cr
May 30, 2024 22:35
TPG, a private equity firm, has sold its entire 5% stake in RR Kabel for Rs 958 crore through open market transactions. The deal was completed in 21 tranches on the BSE.
New Delhi, May 30 (PTI) Private equity major TPG on Thursday divested its entire, 5 per cent stake in RR Kabel for Rs 958 crore through open market transactions.
US-based TPG through its affiliate TPG Asia VII SF Pte offloaded shares of RR Kabel in 21 tranches on the BSE.
According to the block deal data available on the BSE, TPG Asia VII SF Pte sold 56,33,238 shares, amounting to a 4.99 per cent stake in RR Kabel.
The shares were disposed of at an average price of Rs 1,701.1 apiece, taking the deal size to Rs 958.27 crore.
Mirae Asset Mutual Fund (MF), Tata MF, Edelweiss MF, HDFC Standard Life Insurance, Government Pension Fund Global, Societe Generale, Goldman Sachs, Morgan Stanley Asia Singapore, Citigroup Global Markets, and Blackstone were among the buyers of RR Kabel shares.
RR Kabel shares fell 0.06 per cent to close at Rs 1,717.15 apiece on the BSE.
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