INSUBCONTINENT EXCLUSIVE:
private equity fund Gaja Capital in block deals executed over three days this month.
The deals executed over March 15, 22 and 26 in small
This is the second such sale initiated by Gaja in the private sector bank after it last sold some shares in June last year.
Gaja Capital
managing director Gopal Jain confirmed that the fund has reduced its stake in the bank, but did not give any details
The fund was an anchor investor in the bank and had invested in RBL in three tranches starting 2011, owning close to 5 per cent of the
the London-based FTSE emerging market mid-cap index earlier this month
Besides BlackRock, the Vanguard group has also bought more than 1 crore shares through a bulk deal as a lot of exchange traded fund (ETF)
per share from among other Integrated Core Strategies, the Mauritius arm of a global investment management firm, bulk data from the NSE
show.
Gaja made close to 9 times returns on its investments by selling its stake in the price range of Rs 645-Rs 650, making it a
multi-bagger for the private equity company
Besides BlackRock, domestic mutual fund LT also bought shares from the block deal with Gaja
The private equity fund has invested through a foreign fund called GPE (India) Ltd and another domestic venture capital fund.
The demand
The bank has been one of the best performing ones in the index as the stock has jumped 41 per cent from Rs 465 per share a year ago.
