Peak XV Partners exits Indigo Paints; sells 3.18 pc stake for Rs 158 cr

New Delhi, May 30 (PTI) Venture capital firm Peak XV Partners on Friday exited Indigo Paints by selling their entire 3.18 per cent stake in the company for Rs 158 crore through open market transactions.

Peak XV Partners, formerly Sequoia Capital India & SEA, is a leading venture capital and growth investing firm investing across India, South East Asia and beyond.

Peak XV Partners through its affiliates, Peak XV Investments IV sold 7.28 lakh shares of Indigo Paints and Peak XV Investments V offloaded 7.85 lakh scrips of the company, cumulatively a 3.18 per cent stake in Indigo Paints, as per the block deal data on the NSE.

The shares were disposed of at an average price of Rs 1,046.45 apiece, taking the combined transaction value to Rs 158.39 crore.

Meanwhile, Kotak Mahindra Mutual Fund acquired the same number of shares at the same price on the National Stock Exchange (NSE).

Shares of Indigo Paints rose 2.10 per cent to close at Rs 1,079.15 per piece on the NSE. PTI HG HG MR