Nexus Venture Partners sells 4.63 pc stake in India Shelter Fin for Rs 425 cr

New Delhi, Jul 8 (PTI) Venture capital firm Nexus Venture Partners on Tuesday divested a 4.63 per cent stake in India Shelter Finance Corporation for Rs 425 crore through open market transactions.

US-based Nexus Venture Partners, through its affiliates -- Nexus Opportunity Fund II and Nexus Ventures III -- offloaded a total of 50 lakh shares, amounting to a 4.63 per cent stake in Gurugram-based India Shelter Finance Corp, as per the bulk deal data on the NSE.

The shares were disposed of in the price range of Rs 850.85-850.88 apiece, taking the combined deal value to Rs 425.45 crore.

After the latest transaction, Nexus Venture Partners' holding in India Shelter Finance Corp has come down to 10.62 per cent from 15.25 per cent.

Meanwhile, Kotak Mahindra Mutual Fund (MF) purchased 45.28 lakh shares or a 4.2 per cent stake in India Shelter for Rs 385 crore.

As per the data, the shares were picked up at an average price of Rs 850.87 apiece on the exchange.

Details of the other buyers of India Shelter's shares could not be ascertained on the NSE.

India Shelter Finance Corp's shares slipped 0.23 per cent to close at Rs 880 apiece on the NSE.

In a separate bulk deal on the BSE, SBI Mutual Fund bought 18.12 lakh shares or 0.57 per cent stake in Coimbatore-based Elgi Equipments for Rs 96 crore.

The shares were acquired at an average price of Rs 532 apiece.

Details of the sellers of Elgi Equipments' shares could not be identified on the BSE.

SBI MF's holding in Elgi Equipments rose to 3.78 per cent from 3.21 per cent.

Shares of Elgi Equipments went up marginally to end at Rs 534.15 apiece on the BSE. PTI HG HG BAL BAL