WestBridge Capital Offloads Major Stake in Aptus Value Housing; Market Reacts

WestBridge Capital sold a 12.4% stake in Aptus Value Housing Finance for Rs 1,906 crore. The transaction involved 6.19 crore shares at Rs 307.54 each. Following the sale, WestBridge’s stake reduced from 28.59% to 16.19%. Other investors, including SBI Mutual Fund, acquired over 1.67 crore shares cumulatively.

WestBridge Capital on Tuesday divested a substantial 12.4% stake in Aptus Value Housing Finance, amounting to a transaction worth Rs 1,906 crore, through an open market deal.

The private equity giant, which is a key promoter of Aptus Value, sold more than 6.19 crore shares at an average price of Rs 307.54 each, significantly diminishing its holding from 28.59% to 16.19%.

This large-scale divestment paralleled acquisitions by SBI Mutual Fund, Axis Mutual Fund, and Morgan Stanley Asia Singapore, who collectively snapped up over 1.67 crore shares valued at Rs 514 crore, causing Aptus shares to slip by 9.06% on the NSE, closing at Rs 306 apiece.

(With inputs from agencies.)