Kedaara Capital, Partners Group sell 12.6% stake in Aavas Financiers for Rs 1,369 crore

Kedaara Capital and Partners Group, promoters of Aavas Financiers, on Tuesday divested 12.6 per cent in the housing finance company for Rs 1,369 crore through open market transactions.

Private equity firm Kedaara Capital through its affiliate Lake District Holdings Ltd have sold the shares of Aavas Financiers, while Partners Group through its entities Partners Group ESCL and Partners Group Private Equity (Master Fund) LLC disposed of shares of Aavas on the National Stock Exchange (NSE).

As per the bulk deal data available on the NSE, Lake District Holdings sold 58.39 lakh shares of Aavas Financiers, while Partners Group ESCL and Partners Group Private Equity (Master Fund) offloaded a total of 41.57 lakh shares of the housing finance company.

These entities have collectively sold 99,96,950 shares, which represents a 12.6 per cent stake in Aavas Financiers Ltd.

The shares were disposed of within the price range of Rs 1,370-1,370.20 apiece, taking the combined transaction value to Rs 1,369.61 crore.

As of December 2023, Lake District Holdings owned a 22.98 per cent stake in Aavas Financiers, while Partners Group ESCL held 11.21 per cent in the company, and Partners Group Private Equity (Master Fund) LLC had a 4.92 per cent stake in the firm.

Meanwhile, SBI Mutual Fund and Amansa Holdings acquired a total of 86.59 lakh shares, amounting to an 11 per cent stake in Aavas Financiers Ltd.

The shares were purchased at an average price of Rs 1,370 per piece, taking the combined deal value to Rs 1,186.33 crore.

Details of the other buyers could not be ascertained.

On Tuesday, shares of Aavas Financiers plunged 5.01 per cent to close at Rs 1,360 apiece on the NSE.