Home >companies >news >Goldman Sach subsidiary sells stake in Max Ventures

New Delhi: Goldman Sachs subsidiary Xenok and Mauritius based GS Mace Holdings have together sold over 2.09% stake in Max Ventures and Industries.

“We wish to inform that our holdings have decreased to 6,058,216 shares, representing 11.345% of the capital of the company as at August 25,2016. As such we are a substantial shareholder of the company," GS Mace Holdings Ltd said in a regulatory filing.

Xenok and GS Mace together held 13.45% before selling the stake in Max Ventures. Their individual stakes were—Xenok 8.88% and GM Mace 4.57%. After the stake sale, Xenok now has 7.155 and GC Mace over 4.19% in the target company. The stake sale happened through open market sale on 25 August, 2016, it said in the regulatory filing.

GC Mace compiles business data about US-based companies while Xenok is a wholly-owned subsidiary of Goldman Sachs Capital Partners VI Fund. The then Max India had alloted 24,079,700 shares, representing about 9.4% stake to Xenok Ltd in June 2011. Max India demerged into three separate companies in January this year. The three demerged entities are Max Ventures, Max Financial Services and Max India Ltd. Max Ventures shares closed 1.57% down at 56.25 on BSE.

Subscribe to newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperLivemint.com is now on Telegram. Join Livemint channel in your Telegram and stay updated

My Reads Logout