Norwest Venture Partners has sold almost 43% of equity shares it held in Shriram City Union Finance (SCUF), worth around Rs 206.25 crore, which were acquired by Wasatch Advisors Inc.
According to the bulk deal data available with the Bombay Stock Exchange, Norwest Venture Partners X FII, Mauritius, has sold 16,50,000 equity shares in Shriram City Union Finance for a trade price of Rs 1,250 per share.
The Private Equity firm had a total of 38,23,502 equity shares, which accounts to around 6.45% of the total shares of Shriram City Union Finance, in the company by the end of March, 2014. The shares were bought by Wasatch Advisors Inc, headquartered in Salt Lake City, Utah, through one of its fund, Wasatch Small Cap Growth Fund.