WestBridge Capital Sells Stake in AU Small Finance Bank for Rs 845 Crore

WestBridge Capital divested a 1.7% stake in AU Small Finance Bank for Rs 845 crore. The shares were sold through a bulk deal on the NSE at an average price of Rs 650.08 each. Post-transaction, WestBridge Capital's holding in the bank reduced to 2.07% from 3.82%.

Private equity firm WestBridge Capital divested a 1.7 per cent stake in AU Small Finance Bank on Wednesday, amounting to a transaction value of Rs 845 crore through an open market operation.

WestBridge Capital, operating through its affiliate Westbridge AIF I, executed the sale via a bulk deal on the National Stock Exchange (NSE), according to available data.

The affiliate offloaded 1.30 crore shares, translating to a 1.75 per cent stake in the Jaipur-based AU Small Finance Bank. The shares were sold at an average price of Rs 650.08 each, generating a total transaction value of Rs 845.10 crore.

Post-sale, WestBridge Capital's holding in the bank declined to 2.07 per cent from 3.82 per cent.

Meanwhile, Goldman Sachs Investments Mauritius I acquired 43.34 lakh shares of AU Small Finance Bank at an average price of Rs 650 per piece, culminating in a deal worth Rs 281.71 crore. The identities of other buyers remain unconfirmed.

Shares of AU Small Finance Bank dropped 1.25 per cent, closing at Rs 656.20 apiece on the NSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)