Lighthouse Advisors Sells Stake in V2 Retail Amid Market Movements

Private equity firm Lighthouse Advisors divested a 2% stake in V2 Retail for Rs 85 crore via open market. Motilal Oswal Mutual Fund purchased these shares. Additionally, SBI Mutual Fund acquired a 2.3% stake in Alicon Castalloy. Market observed various shifts with significant transactions involving funds and equity firms.

Private equity firm Lighthouse Advisors divested a 2 per cent stake in value retail chain V2 Retail for Rs 85 crore through an open market transaction on Monday. The shares were picked up by Motilal Oswal Mutual Fund.

Lighthouse Advisors, which operated through its affiliate India 2020 Fund II Ltd, sold over 7.34 lakh shares, reducing its stake from 6.36 per cent to 4.24 per cent. The shares were sold at an average price of Rs 1,160 apiece, culminating in a transaction value of Rs 85.23 crore, as per block deal data on the NSE.

Concurrently, another significant transaction took place on the BSE, where SBI Mutual Fund acquired 3.72 lakh shares (2.3 per cent stake) in Alicon Castalloy for Rs 48 crore. These shares were sold by Rajeev Sikand and a promoter entity of Alicon Castalloy at Rs 1,300 apiece. Post this deal, V2 Retail shares surged 5 per cent, while Alicon Castalloy shares dropped by 2.47 per cent.

(With inputs from agencies.)