Private Equity Liquidity Events
Florintree exits Data Patterns by selling 10.7% stake for Rs.1,102-Cr
Source Economic Times (opens in a new tab)Stock Exchange Data (opens in a new tab)
Florintree Capital has sold its entire 10.71% stake in the publicly listed defence and aerospace electronic products company Data Patterns, for INR 1,101.58 crore. Florintree offloaded its 59,96,622 shares on February 16, 2024 at an average price of INR 1,837 apiece.Among the buyers of the shares were Singapore sovereign wealth fund GIC, which picked up shares worth INR 650 crore, and Mathew Cyriac (Florintree’s founder in his personal capacity) who purchased shares worth INR 125 crore.
In June 2021, Florintree had invested INR 81 crore in Data Patterns. The company went public in December 2021.