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.
Bengaluru based NBFC Vistaar Financial Services Pvt Ltd, has raised about R250 Cr in an internal round of funding led by its existing investors WestBridge Capital, Omidyar Network, Elevar Equity, Saama Capital and Lok Capital.