By 26 September, 2009

Singapore’s sovereign wealth fund Temasek Holdings' has exited its investment in multiplex chain Fame India in two bulk deals on Friday.

The firm sold its 13.5% stake in Fame for a little more than Rs 14 crore to Gulshan Investment and Shail Investments. The identity of these two firms is not known.

Interestingly, Temasek had bought around 10% stake from PE firm India Value Fund in a secondary deal in 2005. The stake was then acquired at a share price of more than Rs 62.50. The stake was held by Temasek through two of its subsidiaries - Aranda Investments Mauritius Pte Ltd and Dunearn Investments Mauritius Pte Ltd. The shares of Fame India closed at Rs 30.75 on Friday, up by over 5%.

This will be the second open market exit for Temasek this year. Earlier, it sold its stake in container-freight stations’ operator Gateway Distriparks to a subsidiary of Allcargo Global Logistics.

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