Private Equity Liquidity Events
Lighthouse sells laminates maker Stylam shares worth Rs.66-Cr, registers 2.76x return
Lighthouse Funds sold 760,000 equity shares (4.48% stake) at INR 861.23 per share of Chandigarh-based, publicly listed decorative laminates maker Stylam Industries Ltd. on Jul 20, 2021 through a bulk deal on the BSE. Post the latest sale, aggregating to INR 65.45 crore, Lighthouse would hold 1,539,800 equity shares (9.09% stake) in Stylam.
Meanwhile, Sixth Sense Ventures (via Sixth Sense India Opportunities III) bought 700,000 equity shares (4.13% stake) at INR 861.42 per share of Stylam on the same day through a bulk deal on the BSE. Its purchase aggregated to INR 60.30 crore.
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From the Venture Intelligence PE-VC Deal Database: In May 2017, Lighthouse had invested INR 51.09 crore for 10.41% stake via preferential allotment in the target. It subsequently invested more through open market purchases at various points in time till Sep 2020.