Sequoia Capital's arm sells 3.48% stake in DHFL for Rs 213 crore

MUMBAI: Private equity firm Sequoia Capital's investment arm today sold 3.48 per cent stake in Dewan Housing Finance Ltd ( DHFL) for a little over Rs 213 crore through open market route.

Ironwood Investment Holdings, an investment entity of Sequoia Capital, offloaded 50,76,581 shares or 3.48 per cent stake in DHFL for Rs 213.34 crore, as per bulk deal data available with the stock exchange.

The shares were sold an average price of Rs 420.26 valuing the transaction at Rs 213.34 crore, data showed.

Ironwood Investment Holdings held 3.57 per cent stake in housing finance company at the end of March.

Meanwhile, HSBC GIF Mauritius purchased over 16.78 lakh shares of DHFL for Rs 70.5 crore.

During March quarter, DHFL reported a 15 per cent increase in net profit to Rs 162.28 crore, driven by a healthy rise in retail loans.

Total income rose 11.67 per cent to Rs 1,582.48 crore during the quarter from Rs 1,417.13 crore a year ago.

Shares of DHFL today ended the trade at Rs 429.90 on the BSE, down 0.07 per cent from the previous close.