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TPG, Matrix & Peak XV to sell up to 8.81% in Five Star
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Private equity firms TPG, Matrix Partners, and Peak XV Partners are anticipated to divest up to an 8.81% stake in the non-banking finance company Five Star Business Finance through a block deal on Friday. The deal is likely to raise up to ₹1,876 crore as per a term sheet issued by banker ICICI Securities.
The three funds collectively have proposed to sell 17.1 million shares, equivalent to 5.87% of the equity, with an option to increase the share sale to 25.7 million shares, constituting 8.81% of the total equity, according to the term sheet.
The floor price for the deal has been set at ₹730 per share, representing a 3.51% discount to Thursday's closing price of ₹756.55 per share on the NSE.
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