Kohlberg Kravis Roberts (KKR) has exited Indus Towers by offloading its entire 4.85 per cent stake in the company, while Canada Pension Plan Investment Board (CPPIB) has sold off a 2 per cent holding. The two firms along with another entity, Patronus Tradetech LLP, have sold shares worth Rs 39.78 billion in Indus Towers through open market transactions.
As per the bulk deal data, KKR, through its arm Silverview Portfolio Investments Pte, sold 130.8 million shares of Indus Towers, while CPPIB disposed of more than 57.6 million shares of the company, amounting to 4.85 per cent and 2.14 per cent stake, respectively. Meanwhile, Patronus Tradetech LLP offloaded 226,000 shares in the tower company. The shares were sold within the price range of Rs 210.21-215.28 apiece, taking the transaction size to about Rs 39.78 billion.
After the latest transaction, KKR sold its entire 4.85 per cent equity stake and exited the company, while the shareholding of Canadian Pension Fund CPPIB declined from 2.19 per cent to 0.05 per cent stake in Indus Towers. Patronus Tradetech picked up nearly 15 million shares at an average price of Rs 212.24. This took the deal value to Rs 3.18 billion.
