Liquidity Events
TPG, Peak XV, NVP sell Five-Star Business Finance stake for Rs.3,336-Cr
TPG, Peak XV Partners and Norwest Venture Partners (NVP) have divested 4.16 crore shares (14.24 %) stake in Chennai-based non-banking finance company (NBFC) Five-Star Business Finance through open market transactions on the BSE and the NSE at an average price of INR 800.50 apiece, taking the combined transaction value to INR 3,335.91 crore.TPG through its arm TPG Asia VII SF sold more than 2.71 crore shares (9.28% stake) in two tranches on the BSE and NSE. Norwest Venture Partners, via its Mauritius arm offloaded 80.46 lakh shares (2.75%) stake on the BSE. Peak XV Partners, through its affiliate Peak XV Partners Investments V, disposed of 64.93 lakh shares (2.22 %) stake on the NSE.Post-transaction, TPG has exited the company, while the holdings of Peak XV Partners has come down to 4.03% from 6.25%.
Between Feb 2014 and Oct 2022, Five-Star Business Finance had raised over USD 483.61 M from IIFL AMC, Z47, KKR, Norwest, Peak XV Partners, TVS Capital, TPG Capital, Morgan Stanley and Peak XV Partners.
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