TPG Divests Entire 5% Stake in RR Kabel for Rs 958 Crore

Private equity firm TPG sold its entire 5% stake in RR Kabel for Rs 958 crore through open market transactions. TPG, through its affiliate TPG Asia VII SF Pte, offloaded over 56 lakh shares on the BSE at an average price of Rs 1,701.1 each. Notable buyers included various mutual funds and financial institutions.

Private equity major TPG on Thursday divested its entire, 5 per cent stake in RR Kabel for Rs 958 crore through open market transactions.

US-based TPG through its affiliate TPG Asia VII SF Pte offloaded shares of RR Kabel in 21 tranches on the BSE.

According to the block deal data available on the BSE, TPG Asia VII SF Pte sold 56,33,238 shares, amounting to a 4.99 per cent stake in RR Kabel.

The shares were disposed of at an average price of Rs 1,701.1 apiece, taking the deal size to Rs 958.27 crore.

Mirae Asset Mutual Fund (MF), Tata MF, Edelweiss MF, HDFC Standard Life Insurance, Government Pension Fund Global, Societe Generale, Goldman Sachs, Morgan Stanley Asia Singapore, Citigroup Global Markets, and Blackstone were among the buyers of RR Kabel shares. RR Kabel shares fell 0.06 per cent to close at Rs 1,717.15 apiece on the BSE.

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