Private equity firm TPG offloads Five-Star Business Finance shares for Rs 425 cr

Private equity firm TPG offloads Five-Star Business Finance shares for Rs 425 cr

Private equity firm TPG Inc on Tuesday sold shares of non-banking financial company Five-Star Business Finance for Rs 425 crore through an open market transaction.

US-based TPG Inc through its affiliate TPG Asia VII SF Pte offloaded 56.54 lakh shares of Five-Star Business Finance through a bulk deal on the National Stock Exchange (NSE).

As per the data on the NSE, TPG Asia VII SF Pte sold 56,54,972 shares, amounting to a 1.9 per cent stake in Five-Star Business Finance.

The shares were disposed of at an average price of Rs 752.02 apiece, taking the deal value to Rs 425.26 crore.

After the latest transaction, TPG Asia VII SF Pte shareholding has declined to 9.29 per cent from 11.22 per cent stake (as of December 2023).

Details of the buyers could not be ascertained.

On Tuesday, shares of Five-Star Business Finance fell 1.64 per cent to close at Rs 748 apiece on the NSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)