Nexus Venture Partners Offloads Stake in India Shelter Finance

Nexus Venture Partners, a US-based venture capital firm, has divested a 4.63% stake in India Shelter Finance Corporation for Rs 425 crore. The shares were sold through open market transactions, with Nexus Opportunity Fund II and Nexus Ventures III offloading a total of 50 lakh shares. The deal, executed at Rs 850.85-850.88 per share, reduces Nexus Venture's holding in the firm from 15.25% to 10.62%.

In a parallel move, Kotak Mahindra Mutual Fund has bought 45.28 lakh shares, equating to a 4.2% stake in India Shelter, for Rs 385 crore. The shares were acquired at an average price of Rs 850.87 apiece. Exact buyer information remains unconfirmed according to NSE data, post-transaction seeing India Shelter shares slightly dip to Rs 880.

Additionally, in a separate BSE bulk deal, SBI Mutual Fund has increased its stake in Coimbatore-based Elgi Equipments by purchasing 18.12 lakh shares for Rs 96 crore at Rs 532 each. This acquisition has resulted in SBI Mutual Fund's stake in Elgi Equipments rising to 3.78%. Post-purchase, Elgi Equipments shares observed a modest increase, closing at Rs 534.15 per share.

(With inputs from agencies.)