Nexus Venture sells stake in Shelter Finance for Rs 4.82 Bn
ECONOMY & POLICY

Nexus Venture sells stake in Shelter Finance for Rs 4.82 Bn

Venture capital firm Nexus Venture Partners announced on Monday that it has divested a 5.97% stake in India Shelter Finance Corporation for Rs 4.82 billion through open market transactions. India Shelter Finance Corporation, based in Gurugram, focuses on first-time home loan buyers in the low- and middle-income groups in Tier-II and Tier-III cities across India.

Nexus Venture Partners, through its affiliates Nexus Ventures III and Nexus Opportunity Fund II Ltd, offloaded 64 lakh shares, representing a 5.97% stake in India Shelter Finance Corporation, via two separate bulk deals on the BSE. The shares were sold at prices ranging from Rs 752.35 to Rs 753.27 each, bringing the total deal value to Rs 4.81 billion.

Following this transaction, Nexus Venture Partners' shareholding in India Shelter Finance Corporation has decreased from 21.32% to 15.35%. Meanwhile, financial services company Goldman Sachs and SBI Life Insurance increased their stakes by acquiring a combined 1.31% stake in India Shelter Finance Corporation for Rs 1.06 billion.

According to the data, Goldman Sachs acquired 7.42 lakh shares, or a 0.69% stake, in India Shelter Finance Corporation, while SBI Life Insurance purchased 6.70 lakh units, representing a 0.62% holding in the company. The shares were acquired at an average price of Rs 752.35 each, resulting in a total deal value of Rs 1.06 billion.

After the stake purchases, Goldman Sachs raised its ownership in India Shelter Finance Corporation to 1.78%, while SBI Life Insurance increased its holding to 2.56%, up from 1.94%.

Venture capital firm Nexus Venture Partners announced on Monday that it has divested a 5.97% stake in India Shelter Finance Corporation for Rs 4.82 billion through open market transactions. India Shelter Finance Corporation, based in Gurugram, focuses on first-time home loan buyers in the low- and middle-income groups in Tier-II and Tier-III cities across India. Nexus Venture Partners, through its affiliates Nexus Ventures III and Nexus Opportunity Fund II Ltd, offloaded 64 lakh shares, representing a 5.97% stake in India Shelter Finance Corporation, via two separate bulk deals on the BSE. The shares were sold at prices ranging from Rs 752.35 to Rs 753.27 each, bringing the total deal value to Rs 4.81 billion. Following this transaction, Nexus Venture Partners' shareholding in India Shelter Finance Corporation has decreased from 21.32% to 15.35%. Meanwhile, financial services company Goldman Sachs and SBI Life Insurance increased their stakes by acquiring a combined 1.31% stake in India Shelter Finance Corporation for Rs 1.06 billion. According to the data, Goldman Sachs acquired 7.42 lakh shares, or a 0.69% stake, in India Shelter Finance Corporation, while SBI Life Insurance purchased 6.70 lakh units, representing a 0.62% holding in the company. The shares were acquired at an average price of Rs 752.35 each, resulting in a total deal value of Rs 1.06 billion. After the stake purchases, Goldman Sachs raised its ownership in India Shelter Finance Corporation to 1.78%, while SBI Life Insurance increased its holding to 2.56%, up from 1.94%.

Next Story
Equipment

Better Concrete Handling

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select WellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Dharavi Rising!

Dharavi, Asia’s largest informal settlement, stands on the cusp of a historic transformation. With an ambitious urban renewal project finally taking shape, millions of residents are looking ahead with hope. But delivering a project of this scale brings immense challenges – from land acquisition to rehabilitate ineligible residents outside Dharavi and rehabilitation to infrastructure development. It also requires balancing commercial goals with deep-rooted social impact. At the helm is SVR Srinivas, IAS, CEO & Officer on Special Duty, Dharavi Redevelopment Project (DRP), Government..

Next Story
Infrastructure Urban

Patel Engineering Secures Two Projects Worth Rs 20.37 Billion

Patel Engineering Ltd has secured two important infrastructure projects valued at Rs 20.37 billion. The company received an order from the City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) for dam construction and associated works in Maharashtra. The project will be executed over a period of 42 months. Another project, awarded by the North Eastern Electric Power Corporation Ltd (NEEPCO), involves the development of a 240 MW hydropower project in Arunachal Pradesh. The project scope includes civil construction, testing, commissioning, and installation of hydro-mechanical e..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?