Avataar Venture Partners has exited RateGain Travel Technologies, selling its entire 1.8% stake for Rs 160 crore through an open market transaction. The shares were picked up by Axis Mutual Fund, ICICI Prudential MF, Tata MF, Morgan Stanley Asia Singapore and Societe Generale.
New Delhi, Jun 20 (PTI) VC firm Avataar Venture Partners on Thursday exited RateGain Travel Technologies by selling its entire 1.8 per cent stake for Rs 160 crore through an open market transaction.
Avataar Venture Partners through its arm Avataar Holdings sold shares of SaaS solutions provider RateGain Travel Technologies on the National Stock Exchange (NSE).
According to the block deal data available with the NSE, Avataar Holdings offloaded 21,56,960 shares, amounting to a 1.83 per cent stake in RateGain Travel Technologies.
The shares were disposed of at Rs 745 apiece, taking the deal value to Rs 160.69 crore.
These shares were picked up by Axis Mutual Fund (MF), ICICI Prudential MF, Tata MF, Morgan Stanley Asia Singapore and Societe Generale at the same price.
Shares of RateGain Travel Technologies rose 3.54 per cent to settle at Rs 778.80 apiece on the NSE.
In June last year, Avataar Holdings offloaded a 5 per cent stake in RateGain Travel Technologies for Rs 206 crore.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback