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Home / Companies / News /  PE firms Advent International, Temasek sell 8.77% in CG Consumer for 1,631 cr

Mumbai: PE firms Advent International Corp’s Amalfiaco and Temasek’s MacRitchie Investments Pte Ltd sold 8.77% in CG Consumer for 1631 crore in an open market transaction on Tuesday.

According to bulk deal data on NSE, Amalfiaco Ltd sold 36.07 million shares or 5.75% of CG Consumer for 296.57 apiece aggregating to 1070 crore and MacRitchie Investments Pte Ltd sold 18.93 million shares for 296.54 per share totalling to 561.24 crore.

As per the latest shareholding pattern, Amalfiaco Ltd and MacRitchie Investments Pte Ltd held 17.18% and 9.01% respectively in the firm.

Last year, Advent International Corp’s Amalfiaco and Temasek’s MacRitchie Investments Pte sold 5.12 crore shares of Crompton Greaves Consumer Electricals through block deals.

SBI Mutual Fund, Societe Generale and HDFC Standard Life Insurance bought 2.93% stake in Crompton Greaves Consumer Electrical Ltd for 546 crore.

From the beginning of the year, CG Consumer gained 24% against a rise of 4% in the benchmark index, Nifty.

CG Consumer Electricals Ltd reported a 27.77% increase in consolidated net profit at 141.68 crore for the quarter ended September 2020 against 110.88 crore for the same quarter last year. Revenue from operations rose 12.77% to 1,213.19 crore during the quarter over 1,075.79 crore in the corresponding period of the previous fiscal.

Shares of CG Consumer Electrical lost 2.75% to close at 297.25, while the benchmark index, Nifty rose 1.36% to close at 12,631.10 points on Tuesday on NSE.

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