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Private equity firm Apax Partners, through its arm Dynasty Acquisition, sold 79.97 lakh shares or 2.95 per cent stake in Shriram Finance via multiple block deals on the BSE on Friday.
FID Funds Mauritius Ltd, part of the US-based Fidelity Investments, bought 66.28 lakh shares or 2.45 per cent stake. The remaining shares were bought by ICICI Prudential Life Insurance, Norges Bank — on behalf of Norwegian Government Pension Fund Global, Societe Generale, BNP Paribas Arbitrage Fund and Aditya Birla Sun Life Insurance.
All the transactions were undertaken at ₹1,300 per share.
businessline had, on Thursday, reported that Apax Partners was looking to sell its entire 4.63 per cent stake in Shriram Finance for a total value of up to ₹2,250 crore and a floor price of ₹1,300 per share.
Dynasty Acquisition, which held 1.73 crore shares of Shriram Finance, had acquired the stake in Shriram City Union Finance from TPG Capital in 2015.
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