Private Equity Liquidity Events
Bain Capital sells 2.82% in L&T Finance for Rs.910-Cr
Private Equity investor Bain Capital has sold a 2.82 % stake in publicly listed L&T Finance Holdings. The PE firm sold nearly 7 crore shares at INR 130 apiece to collect INR 910 crore. Among the buyers were BNP Paribas, SBI Life, DSP Blackrock MF and Bajaj Allianz Life.
At the end of June 2023 quarter, Bain Capital through two affiliate firms held a 4.04% stake in L&T Finance.
From the Venture Intelligence PE-VC Deal Database: In Sep 2015, Bain Capital had invested USD 200 M in L&T Finance Holdings via a Preferential Allotment, in return for a 10.22% stake. (Subscribers to the database can login to view the valuation multiples, deal structuring and other transaction details.)