Sequoia Capital India Sells Stake in Indigo Paints
Sequoia Capital India divested nearly 3.3 percent stake in paint manufacturer Indigo Paints for Rs 210 crore through open market transactions. According to the bulk deal, data available with the BSE, Sequoia Capital India Investments IV and SCI Investments V sold a total of 15,60,000 shares, amounting to 3.28 percent share in the company. The shares were offloaded at an average price of Rs 1,343.82 -Rs 1,343.65 apiece, taking the transaction value to Rs 209.62 crore. Meanwhile, ICICI Prudential Life Insurance Company, Goldman Sachs (Singapore) Pte- ODI, and Pictect Indian Equities acquired a total of 8.41 lakh shares of the company. As of September 2022, Sequoia Capital India through Sequoia Capital India Investments IV and SCI Investments V held a 28.54 percent stake in the company as per shareholding data available with the bourse.
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