@ICICIVentureFunds Fund has exited @VA_Tech 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 @DynamicIndiaFund_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.
Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.
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