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Private Equity | 26 July 2011

ICICI Venture Exits VA Tech Wabag

by Charmi Gutka
ICICI Venture Exits VA Tech Wabag
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ICICI Venture Fund has exited VA Tech Wabag Limited by selling its remaining 4.65% stake for Rs.68.77 Cr through a bulk deal on NSE.

ICICI Venture sold 4.91 lakh shares held by its two funds - IDBI Trusteeship Services of India Advantage Fund I (sold 232163 shares) and Dynamic India Fund I (sold 259095 shares ) at Rs.1,400 per share, which is around 9.5% premium to VA Tech's closing price of Rs.1,279 on Monday.

The shares were bought by Japan-based Sumitomo Corporation. IDBI Trusteeship Services held 2.2% stake, while Dynamic fund owned 2.45% stake.

Transaction Reference: NSE


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