Private equity firm Bain Capital sold 8.36 per cent of Himadri Speciality Chemical on Thursday, bringing down its holding to 12.7 per cent, going by a stock market notification.
In a separate report, The Economic Times said that Bain Capital on Thursday sold 6.2 per cent stake through a bulk deal. It said that prior to the deal, it held 24.64 per cent of the company.
On Monday, VCCircle reported that the private equity firm, for the first time, partially exited its over decade-long investment in the listed manufacturer of carbon materials and chemicals.
That day, Bain Capital sold 1.19 per cent stake for Rs 21.7 crore, bringing down its holding to 23.45%.
To be sure, the investor has been selling shares of the carbon materials and chemicals maker through this week.
Himadri was the PE firm’s debut India deal.
Bain Capital initially picked up about 15 per cent stake in 2010. It later bought more through an open offer, taking its total stake in the Kolkata-based company to a little more that 25 per cent, which got diluted to 24.64 per cent by December 2020.
Set up in 1987, Himadri has a presence across multiple product segments like coal tar pitch, carbon black, naphthalene and refined naphthalene, and speciality oils.
In the last few years, it claims to have diversified its product portfolio. The company has nine manufacturing facilities across India and China.