Standard Chartered Private Equity has bought 10% stake in Chennai-based Redington India Limited for Rs.365.13 Cr, while ECL Finance Ltd, the NBFC arm of Edelweiss has bought 2% stake in Redington for Rs.73 Cr.
StanChart PE and ECL Finance have bought the shares from promoter Redington Mauritius and Synnex Mauritius, a unit of Taiwanese IT distributor Synnex Technology International Corp. The total deal is valued at around Rs.438 Cr.
The transaction took place via a block deal on the BSE at Rs 91.9 a share, which was about 4% premium to the scrip's closing price of Rs 88.50 on BSE on Monday.
Redington MD R Srinivasan said that the company wanted to continue as a management run firm and wanted none of the shareholders to hold over a 26% stake.
Cholayil Private Limited has acquired Krishna Thulasi, a herbal soap brand owned by Chennai-based Krishna Herbals Company Private Limited. Post-deal, all the Krishna Thualsi brand products, like soap, face gel and shampoo will continue ...
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.