AAVAS Financiers' promoters sell shares worth over Rs 751 cr

NEW DELHI: Two promoters of AAVAS Financiers Ltd on Friday offloaded shares worth over Rs 751 crore, through open market transactions.

Partners Group ESCL Ltd and Partners Group Private Equity (Master Fund) LLC sold shares for Rs 522.09 crore and Rs 229.11 crore, respectively.

The scrips were sold at an average price of Rs 2,452.5 per scrip, according to block deal data on the BSE.

On Wednesday, another promoter of the company, Lake District Holdings Ltd, had offloaded shares worth over Rs 1,215 crore and the Government of Singapore and the Monetary Authority of Singapore had purchased shares for over Rs 782 crore in the firm.

According to shareholding data for the June 2021 quarter, Partners Group ESCL Ltd held 14.32 per cent stake in the firm, while Partners Group Private Equity (Master Fund) LLC's shareholding in AAVAS Financiers stood at 6.28 per cent.

Through separate block deals on Friday, several entities, including Public Sector Pension Investment Board, Abu Dhabi Investment Authority, Monetary Authority of Singapore, Government of Singapore, and HDFC Standard Life Insurance bought shares of the firm.

Besides, a host of mutual funds were also among the buyers.

The entities purchased the shares at an average price of Rs 2,452.5 apiece.

Shares of AAVAS Financiers ended at Rs 2,385.3 on Friday, down 3.71 per cent over the previous close, on the BSE.