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This just in. Private equity fund Warburg Pincus has sold 14 per cent stake in Sintex Industries through an open market transaction today, CNBC TV-18 reports. The fund is believed to have sold the shares at Rs 350 apiece to a group of unnamed foreign institutional investors.
Warburg had picked up 17 per cent stake in Sintex in 2005. The Warburg arm Lightwood Investment of Mauritius bought this stake for Rs. 84.03 crore (3 million shares at Rs 280.10 a share).
CNBC TV18 also reports that ICICI Venture has sold its 6.9 per cent stake in Deccan Aviation. It sold 6.7 million shares at Rs 148.90 in a block deal on National Stock Exchange. The details of the buyers are not known. ICICI had acquired Deccan shares at Rs 65-70. It initially held 19 per cent stake, which got diluted to 14 per cent at the time of Air Deccan IPO. In March this year, ICICI Venture sold a 3.25 per cent stake in the low cost carrier for about Rs 32 crore to UBS Securities Asia. This deal was struck at Rs 94 a share.