Apax Partners likely to exit Shriram Finance through a block deal today

Shriram Finance: Apax Partners likely to sell entire stake in Shriram Finance via block deal on January 13. Private equity player Apax Partners arm Dynasty Acquisition is likely to sell its entire stake - (up to 1.73 crore shares or a 4.63 percent stake) in Shriram Finance via a block deal on January 13, reports CNBC Awaaz quoting sources. As per the report, Apax will offer up to a 6 percent discount on deal. The deal size is Rs 2,250 crore including the green shoe option.

Private equity player Apax Partners subsidiary Dynasty Acquisition is likely to sell its entire stake - up to 1.73 crore shares or a 4.63 percent stake - in Shriram Finance through a block deal today, sources told CNBC Awaaz.

As per the report, Apax will offer up to a 6 percent discount on deal. The deal size is Rs 2,250 crore including the green shoe option, the business channel reported citing sources. Kotak Securities is the likely broker to the deal, the report added.

In 2015, Apax had acquired a stake in Shriram City from TPG Capital. Post-merger of Shriram City and Shriram Transport, the firm holds a 4.63 percent stake in Shriram Finance, the merged entity.

TPG had originally picked a 20.37 percent stake in Shriram City in August 2013, which followed the amalgamation of Shriram Enterprise Holdings Pvt Ltd with Shriram Retail Holdings Pvt Ltd and the subsequent merger of the consolidated entity with Shriram City Union Finance Ltd. The deal was valued at Rs 1,207.29 crore.

Meanwhile, shares of Shriram Finance on Thursday (January 12) closed 1.57 percent lower at Rs 1313.95 apiece on BSE.