Sequoia Capital sheds 3.28% stake in Indigo Paints

11 Nov 2022 CW Team

Sequoia Capital India this week divested a 3.28% per cent stake in paint manufacturer Indigo Paints for Rs 2.10 billion through open market transactions.

According to the bulk deal data with the BSE, Sequoia Capital India Investments IV and SCI Investments V sold a total of 15,60,000 shares, amounting to a 3.28 per cent stake in the company.

The shares were offloaded at an average price of Rs 1,343.82-Rs 1,343.65 apiece, taking the transaction value to over Rs 2.09 billion.

ICICI Prudential Life Insurance Company, Goldman Sachs (Singapore) Pte - ODI and Pictet Indian Equities acquired a total of 841,000 shares of the company.

As of September 2022, Sequoia Capital India through Sequoia Capital India Investments IV and SCI Investments V held a 28.54 per cent stake in Indigo Paints.

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