Peak XV Partners Sells Stake in Indigo Paints for Rs 158 Crore

Peak XV Partners, a notable entity in venture capital, has exited its 3.18% stake in Indigo Paints. The transaction, valued at Rs 158 crore, was executed via open market operations, marking a significant movement in the trading circle.

The sale included 7.28 lakh shares from Peak XV Investments IV and 7.85 lakh scrips from Peak XV Investments V. This departure from Indigo Paints stock comes as part of a strategic shift by the venture capital firm, previously known as Sequoia Capital India & SEA.

Amidst this exit, Kotak Mahindra Mutual Fund stepped in to acquire the same number of shares, signaling confidence in Indigo Paints. Consequently, Indigo Paints shares saw a 2.10% uptick, closing at Rs 1,079.15 on the NSE.

(With inputs from agencies.)