Blackstone sells 7.55 per cent stake in SH Kelkar for Rs 334 crore

NEW DELHI: Private equity major Blackstone today sold 7.55 per cent stake in fragrance maker S H Kelkar and Company for nearly Rs 334 crore through open market transaction.

As per the bulk deal data available with BSE, Blackstone Capital Partners (Singapore) VI FDI Two Pte offloaded 1.09 crore shares amounting to 7.55 per cent stake of S H Kelkar and Company.

The shares were sold at an average price of Rs 306 apiece, valuing the transaction at Rs 333.98 crore.

At the end of the March quarter, Blackstone Capital Partners (Singapore) VI FDI Two Pte held 2.53 crore shares or 17.53 per cent stake in the fragrance maker.

The buyers of the shares include: Wells Fargo Lux Worldwide Fund Emerging Markets Equity Fund, Hober Mallow Trust, Morgan Stanley France SA and Kotak Funds India Midcap Fund.

The shares of S H Kelkar and Company ended the day at Rs 308.75 on BSE, down 5.81 per cent from the previous close.