Advent International Divests Entire Stake in Aditya Birla Capital

Advent International has divested its entire 2.04% stake in Aditya Birla Capital, amounting to Rs 1,638 crore via open market transactions. Major buyers include Goldman Sachs and Morgan Stanley. The shares saw minor increases in their market value following the transaction. Advent International had previously offloaded shares in June this year.

Advent International, a private equity firm, has successfully sold its entire 2.04% stake in Aditya Birla Capital for approximately Rs 1,638 crore through open market transactions.

The sale was conducted via Jomei Investments Ltd, a special purpose vehicle, which offloaded a total of 2.66 crore shares on the BSE and NSE through distinct block deals. The transaction was valued at Rs 1,638.56 crore, with shares averaging Rs 308 each.

Notable buyers included Goldman Sachs, Morgan Stanley, and Norges Bank among others. Following the sale, Aditya Birla Capital's shares rose slightly on both exchanges. Previously in June, Advent had sold another tranche of shares for Rs 1,135.60 crore.

(With inputs from agencies.)