WestBridge Capital Sells Aptus Value Housing Stake: 5% Reduced

New Delhi, May 21 (PTI) WestBridge Capital, one of the promoters of Aptus Value Housing Finance, on Tuesday reduced its stake in the company by 5 per cent, while another promoter JIH II LLC exited the firm by offloading its entire 2 per cent shareholding.

Both the promoters sold their shares through open market transactions for a total of Rs 1,028 crore.

WestBridge Capital through its affiliate WestBridge Crossover Fund LLC offloaded shares of Aptus Value Housing Finance India, while JIH II LLC sold its shares in two separate deals, according to the data on the National Stock Exchange (NSE).

As per the bulk deal data available on the NSE, WestBridge Crossover Fund disposed of more than 2.47 crore shares, amounting to a 4.96 per cent stake in Aptus Value Housing Finance.

JIH II LLC sold over 1.01 crore shares, representing its entire 2.03 per cent stake in Aptus.

The shares were disposed of in the range of Rs 294.15-294.73 apiece, taking the combined transaction value to Rs 1,027.94 crore.

After the stake sale, shareholding of WestBridge Crossover Fund LLC in Aptus has declined to 29.5 per cent from 34.46 per cent.

The combined shareholding of promoters and promoter group in the housing finance firm has also reduced to 54.1 per cent from 61.09 per cent.

Meanwhile, SBI Mutual Fund acquired 1.82 crore shares or 3.65 per cent stake and Luxembourg-based Eastbridge Group bought over 43 lakh shares of Aptus Value Housing Finance.

Shares were purchased at an average price of Rs 294 per piece, taking the combined deal value to Rs 663 crore.

Details of the other buyers could not be ascertained.

On Tuesday, shares of Aptus Value Housing Finance India plunged 5.51 per cent to close at Rs 298.60 apiece on the NSE.