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Warburg Pincus exits Apollo Tyres; pares entire stake for Rs 1,073 crore
Private equity major Warburg Pincus on Wednesday exited Apollo Tyres by selling its entire 3.54 per cent stake in the tyre manufacturing company for Rs 1,073 crore through open market transactions.
US-based Warburg Pincus through its arm White Iris Investment Ltd offloaded the shares of Gurugram-based Apollo Tyres through 14 block deals on the BSE.
As per the data on the BSE, White Iris Investment Ltd sold a total of 2,24,74,903 shares of Apollo Tyres.
The shares were offloaded at an average price of Rs 477.35 per piece, taking the transaction value to Rs 1,072.84 crore.
A clutch of domestic mutual funds (MFs), an insurance company and foreign investors were among the buyers of the shares.
The entities are Edelweiss Mutual Fund (MF), Mirae Asset MF, ICICI Prudential MF, Sundaram MF, ICICI Prudential Life Insurance Company, Societe Generale, Ghisallo Master Fund LP, Goldman Sachs Investments (Mauritius) I, Morgan Stanley Asia Singapore, and Citigroup Global Markets Mauritius.
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