As many as 25.9 crore shares of Indus Towers, totaling to 9.6% of its outstanding equity exchanged hands in a large trade.
The total transaction value amounts to ₹5,500 crore. Shares exchanged hands at an average price of ₹210 per share.
Buyers and sellers in the transaction are not officially known.
CNBC Awaaz had reported on Wednesday citing sources that KKR and CPP are likely to sell shares in the tower operator via block deal.
The total deal size is likely to be worth ₹3,800 crore or $465 million. The shares are being offered at a discount of up to 8% to Wednesday's closing price, according to the sources.
BNP Paribas is said to be a broker to the deal.
Based on the December quarter shareholding pattern, Silverview Portfolio Investments, which is the KKR entity holds a 4.85% stake as on December 31.
Canada Pension Plan Investment Board also holds a 2.19% stake in Indus Towers as of December 31.
Shares of Indus Towers had ended 3.1% lower on Wednesday at ₹222.90. The stock is up 54% over the last 12 months. The stock has declined as much as 5.5% post the transaction.
First Published: Feb 1, 2024 10:14 AM IST
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