Private Equity

Liquidity Events

Kedaara Capital, Partners Group sell 12.6% stake in Aavas Financiers for Rs.1,369-Cr

Business Standard  

PE investors Kedaara Capital and Partners Group have sold a combined 12.6% stake in Jaipur-based, publicly listed housing finance company, Aavas Financiers, realising a total of INR 1,369 crore.Kedaara Capital (through its unit Lake District Holdings Ltd) sold 58.39 lakh shares and Partners Group (through Partners Group ESCL and Partners Group Private Equity (Master Fund) LLC) sold 41.57 lakh shares on the National Stock Exchange (NSE) at about INR 1,370 per share. As of December 2023, Lake District Holdings owned a 22.98% stake in Aavas Financiers, while Partners Group ESCL held 11.21% in the company, and Partners Group Private Equity (Master Fund) LLC had a 4.92% stake in the firm.

Between June 2016 and Mar 2018, Kedaara Capital and Partners Group had invested over USD 224 M in Aavas Financiers . The company went public in Oct 2018, as part of which, the two investors had sold shares worth about USD 169 M. Subsequently, they have offloaded shares worth about USD 418 M. Other investors in Aavas include BII, ADB and IFC.