Private equity firm Blackstone has sold about 1.09 crore shares or nearly 8% stake in fragrance and flavours firm SH Kelkar and Company Ltd for about Rs. 334 crore in a open market transaction. Azim Premji’s investment arms were among the buyers in the sale.
According to bulk deal data on BSE, Blackstone sold the shares at Rs. 306.06 a share. Azim Premji through his investment arms Tarish Investment and Trading Company Ltd and Prazim Trading and Invesment Company Pvt Ltd have picked up a total of about 31.68 lakh shares in the sale.
Wells Fargo Lux Worldwide Fund Emerging Markets Equity Fund, Hober Mallow Trust, Kotak Mid Cap Fund where among the other buyers.
Prior to Wednesday’s sale, Blackstone had a 17.53% stake in SH Kelkar. In 2012, the private equity firm had bought a 33% stake for Rs. 243 crore. It had partially exited its stake through the company’s initial public offering in 2015.
SH Kelkar shares fell nearly 6% to close at Rs. 308.75 on the BSE.
