VC Circle 17 May 2013
Singapore-based private equity firm Nalanda Capital has picked up nearly 8 per cent stake in auto ancillary firm NRB Bearings through a deal on Thursday. Nalanda India Equity Fund acquired 7.96 per cent stake in the company for Rs 27.02 crore.
Nalanda bought over 7.7 million shares in NRB, which were sold by some members of the company’s promoter group. The shares were picked up for Rs 35 a unit.
NRB Bearings’ scrip closed at Rs 35.60, up 3.04 per cent on Thursday, giving the Mumbai-based company a market capitalisation of Rs 479.53 crore.
Another major shareholder in NRB Bearings is the hedge fund Acacia Capital, which owns nearly 7 per cent stake.
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Nalanda Capital buys around 8% stake in auto ancillary firm NRB Bearings
