TPG Capital, through one of its affiliates TPG Asia Vii Sf Pte, sold 89,07,493 shares of Five-Star Business or 3.05% stake at Rs 730 apiece, aggregating around Rs 650 crore, according to bulk deals data on the National Stock Exchange. As of September end, the global private equity fund held 14.29% stake in the NBFC.
Peak XV Partners Investments offloaded 45,67,945 shares or 1.6% stake for around Rs 333 crore. As of September end, Sequoia held 7.26% stake in the company.
Matrix Partners, which is a part of the promoter group, sold 92,13,440 shares or 3.2% stake for around Rs 673 crore. As of September end, it held a 4.75% stake in Five-Star Business Finance.
In September too, Matrix Partners had sold 3% stake in the company for around Rs 650 crore.
News reports on Thursday had said the global firms are looking at selling partial stake in the non-bank lender through the open market on Friday.
The open market sale triggered selling pressure in the stock, which ended nearly 3% down on the National Stock Exchange at Rs 735.15. In the last six months, the stock has gained over 26%. For the quarter ended September, the company reported an over 38% year-on-year (YoY) growth in net profit to Rs 199 crore, and interest income grew by 41% to Rs 504 crore.
In the September quarter, both mutual funds and FPIs significantly raised their stake in the company sequentially.
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