WestBridge trims stake in Aptus Housing Finance, sells shares worth Rs 1,906 crore

WestBridge Capital on Tuesday sold a 12.4 per cent stake in Aptus Value Housing Finance, amounting to Rs 1,906 crore, via an open market transaction.The private equity firm, one of the promoters of Aptus Value Housing Finance, executed the sale through its investment arm, WestBridge Crossover Fund LLC. According to bulk deal data on the NSE, over 6.19 crore shares were sold at an average price of Rs 307.54 each, bringing the total transaction value to Rs 1,905.91 crore, PTI reported.Following the stake sale, WestBridge Capital’s shareholding in Aptus Value Housing Finance dropped to 16.19 per cent from 28.59 per cent.On the buy side, SBI Mutual Fund, Axis Mutual Fund, Morgan Stanley Asia Singapore, and Luxembourg-based Eastbridge Group collectively acquired more than 1.67 crore shares, equivalent to a 3.35 per cent stake, for a total of Rs 514.64 crore. The shares were bought at an average price of Rs 307 apiece.Details of other buyers were not disclosed in the NSE data.Shares of Aptus Value Housing Finance India closed 9.06 per cent lower at Rs 306 on the NSE.