Private Equity

Liquidity Events

TPG, Matrix, Peak XV sell stakes worth Rs.1,656-Cr in Five Star Business Finance

Mint  

Peak XV Partners (formerly Sequoia Capital), TPG Asia, and Matrix Partners India have divested partial stakes in Chennai-headquartered Five Star Business Finance, a non-banking financial company (NBFC). The cumulative value of these transactions through bulk deals amounted to INR 1,656 crore. TPG Capital, via its affiliate TPG Asia VII SF Pte, divested 89,07,493 shares of Five-Star Business, representing a 3.05% stake, at a rate of INR 730 per share. This transaction amounted to approximately INR 650 crore. As of the end of September, TPG maintained a 14.29% stake in the company. Peak XV Partners Investments sold 45,67,945 shares, equivalent to a 1.6% stake, amounting to approximately INR 333 crore. As of the end of September, Sequoia retained a 7.26% stake in the company. Matrix Partners lndia sold 92,13,440 shares, equivalent to a 3.2% stake, for about INR 673 crore. As of the end of September, Matrix Partners retained a 4.75% ownership stake in Five Star. In September, Matrix had divested a 3% stake in the company for approximately INR 650 crore.