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.
Inter-city cab rental platform MyTaxiIndia Pvt. Ltd has raised $1 million (around Rs 6.65 crore) in a bridge round of funding from existing investor Nihon Kotsu Co, an 88 year old and leading taxi rental company in Japan.