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.