Advent sells significant stake in Eureka

Private equity major, Advent has sold 10% stake of Eureka Forbes (EFL).

  • Advent had acquired Eureka Forbes from Shapoorji Group in September 2021 through a SPV, Lunolux Limited.
  • Before this sale, Lunolux held 72.56% of EFL.
  • 10% stake has been sold at an average price of Rs 506.06/ share totalling Rs 979 cr.
    • Previous day’s closing price was Rs 510/ share
  • Goldman Sachs, Cassini Partners, Plutus Wealth Management, Morgan Stanley Asia, Aditya Birla Sun Life Insurance, Societe Generale, Hill Fort India Fund and BOFA Securities Europe SA were among the buyers.
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