Sequoia Capital India sells stake in Indigo Paints for ₹210 crore

According to the majority deal knowledge accessible with the BSE, Sequoia Capital India Investments IV and SCI Investments V bought a complete of 15,60,000 shares, amounting to three.28 per cent stake in the corporate.

Sequoia Capital India bought 750,480 shares at a costs of ₹1,343.82 per share whereas SCI Investments V bought 809,520 shares at a value of ₹1343.65 per share, thus taking the transaction worth to ₹209.62 crore.

Meanwhile, ICICI Prudential Life Insurance Company purchased 250,000 shares, Goldman Sachs (Singapore) Pte – ODI purchased 267,000 and Pictet Indian Equities acquired 324,000 shares. 

These three collectively purchased a complete of 8.41 lakh shares of the corporate at ₹1,343.

As of September 2022, Sequoia Capital India by means of Sequoia Capital India Investments IV and SCI Investments V held 28.54 per cent stake in Indigo Paints, as per shareholding knowledge accessible with the bourse.

Indigo paints web revenue rose by 174 per cent year-on-year to ₹37.1 crore for the quarter ended September 2022.

The firm’s income from operations in the course of the September 2022 quarter got here in at ₹242.6 crore, which was 23.7 p.c increased as in comparison with the year-ago interval.

Shares of Indigo Paints closed 4.56 per cent decrease at ₹1,428.25 apiece on BSE.