Advent International exits Crompton, sells entire 5.36 pc stake for Rs 1,348 cr

The shares were lapped up by over a dozen entities, including foreign investors, domestic mutual funds and insurance companies. 

According to block deal data available with the BSE, Advent International Corp's Amalfiaco Ltd sold a total of 3,36,67,802 shares, amounting to a 5.36 per cent stake of Crompton. 

The shares were offloaded on an average price of Rs 400.4 apiece, valuing the transaction at Rs 1,348.06 crore, the data showed. 

As of the March quarter, Amalfiaco held a 5.36 per cent stake in Crompton, shareholding data with BSE showed. 

Prior to this, Amalfiaco had divested 3.8 crore shares of Crompton for over Rs 1,492 crore in February 2021. Also, it had offloaded over 3.6 crore shares of the company for Rs 1,070 crore in November 2020. 

Among the buyers that purchased Crompton stocks on Wednesday are -- White Oak India Equity Fund II, Morgan Stanley Mauritius Company, Integrated Core Strategies Asia Pte Ltd, Al Mehwar Commercial Investments Ltd and Ashoka India Equity Investment Trust Plc. 

In addition, shares were also bought by SBI Mutual Fund, Mirae Asset Mutual Fund, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, HDFC Standard Life Insurance Company and Bharati Axa Life Insurance Company. 

Shares of Crompton settled 5.11 per cent higher at Rs 425.05 apiece on the BSE. In a separate block deal on NSE, IIFL Special Opportunities Fund sold a total of 6,49,349 shares of Nazara Technologies at Rs 1,641.95 apiece, valuing the transaction at Rs 106.62 crore. 

Of these, Norges Bank, which manages Norway's pension fund, picked up 5,85,037 shares of Nazara Technologies and Alps/Kotak India Growth Fund bought 64,312 shares of the company.