Private Equity

Liquidity Events

Warburg Pincus exits Apollo Tyres; pares entire 3.54% stake for Rs.1,073-Cr

Business Standard  

US-based private equity major Warburg Pincus has exited Gurugram-based Apollo Tyres by selling its entire 3.54% stake (2,24,74,903 shares) for INR 1,072.84 crore through open market transactions.The PE firm, through its arm White Iris Investment Ltd, offloaded the shares of Apollo Tyres through 14 block deals on the BSE. The shares were offloaded at an average price of INR 477.35 per piece.Among the buyers of the shares were Edelweiss Mutual Fund (MF), Mirae Asset MF, ICICI Prudential MF, Sundaram MF, ICICI Prudential Life Insurance Company, Societe Generale, Ghisallo Master Fund LP, Goldman Sachs Investments (Mauritius) I, Morgan Stanley Asia Singapore, and Citigroup Global Markets Mauritius.In December last year, Warburg Pincus had divested a 4.5 % stake in Apollo Tyres for INR 1,281 crore through multiple block deals.