-573.38
-169.60
+ 451.00
+ 1,908.00
+ 618.00
-573.38
-169.60
-169.60
+ 451.00
+ 451.00
+ 1,908.00
Advent International, the private equity firm, will sell some of its stake in the IPO. | Photo Credit:
Advent International’s portfolio company, Manjushree Technopack, has filed draft papers for a ₹3000 crore initial public offer. The company will raise ₹750 crore through a fresh issue and ₹2,250 crore through an offer for sale.
The private equity firm will sell some of its stake in the IPO. Its average acquisition cost was ₹361.85 apiece. It currently holds a 97.54 per cent stake in the packaging firm.
Of the total funds raised, ₹500 crore will be used to pay down debt, and the remaining will fund inorganic growth through acquisitions and other purposes.
Published on August 21, 2024
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.