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Home / Companies / News /  Aavas Financers’s PE promoter Partner Group sells shares worth Rs361 cr

Mumbai: Global private markets investment manager Partners Group on Monday sold shares of mortgage financier Aavas Financers Ltd worth 361 crore through open market transactions, data from stock exchanges show.

The bulk deal data available with NSE showed that Partners Group ESCL sold 25,58,424 shares or 3.27% of the equity at an average price of 1412.49 valuing the transaction at 361.13 crore.

Nomura India Investment Fund Mother Fund and New World Fund INC bought 5,20,00 shares at an average price of 1410 and 1409.97 aggregating to 73.32 crore each.

In February, Lake District Holdings Ltd - an entity owned by homegrown private equity firm Kedaara Capital, another promoter of Aavas Financiers Ltd, sold 36.67 million shares or 4.67% of the total holdings for 666 crore.

Aavas reported a 11% rise in its net profit to 50.1 crore in the first quarter ended June of the current fiscal year against a net profit of 45.3 crore in the corresponding quarter of the previous fiscal year. Total income of the company grew 18.26% to 233.59 crore during April-June period of 2020-21 from 197.52 crore in the same period of 2019-20.

From the beginning of the year, Aavas’ shares have lost 29% value, against a drop of 6% in the benchmark index, Nifty.

Shares of Aavas Financers lost 7.78% to close at 1402.90 on Monday on NSE, while the benchmark index,Nifty lost 2.23% to close at 11,387.50 points.

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