Sequoia Capital India Sells Stake In Indigo Paints For Rs 210 Crore

Sequoia Capital India on Wednesday divested nearly 3.3% stake in paint manufacturer Indigo Paints for Rs 210 crore

PTI @PTI_News

09 Nov 2022, 11:52 PM IST

<div class="paragraphs"><p>(Source: <a href="https://unsplash.com/@themephotos?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText">Theme Photos</a>/ <a href="https://unsplash.com/s/photos/paint-brush?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText">Unsplash</a>)</p></div>

Sequoia Capital India on Wednesday divested nearly 3.3% stake in paint manufacturer Indigo Paints for Rs 210 crore through open market transactions.

According to the bulk deal data available with the BSE, Sequoia Capital India Investments IV and SCI Investments V sold a total of 15,60,000 shares, amounting to 3.28% stake in the company.

The shares were offloaded at an average price of Rs 1,343.82-Rs 1,343.65 apiece, taking the transaction value to Rs 209.62 crore.

Meanwhile, ICICI Prudential Life Insurance Company, Goldman Sachs (Singapore) Pte - ODI and Pictet Indian Equities acquired a total of 8.41 lakh shares of the company.

As of September 2022, Sequoia Capital India through Sequoia Capital India Investments IV and SCI Investments V held 28.54% stake in the company, as per shareholding data available with the bourse.

Shares of Indigo Paints closed 4.56% lower at Rs 1,428.25 apiece on BSE.