Mauritian Fund Sells 20% Stake in NSE During IPO
- Reports
- 6
- Developments
- 2
- Repetition
- 67%
New informationRepeats or wire copies
What happened
Soach Global Strategic Holdings Limited, Mauritius, is selling through the offer for sale in the National Stock Exchange of India Limited (NSE) initial public offering. The fund acquired 1,50,000 NSE equity shares from Industrial Finance Corporation of India Limited (IFCI) in January 2016. The fund is currently selling 16,50,000 equity shares, representing 20% of its total holding.
Why it matters
The sale is valued at approximately ₹280 to ₹295 crore. This transaction realizes nearly five times the fund's original investment, achieving a return of roughly 25x on the initial capital deployed.
Mauritius entities were reportedly used for undisclosed foreign investment.
Who's involved
- MauritiusLocation of the fund headquarters
How it developed
Newest first. Tap a step to see who reported it.Soach Global Fund is exiting its decade-long investment in the NSE.1 source
Mauritian-linked Soach Global Fund participates in NSE IPO, acquiring shares from IFCI.1 source
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The entities involved
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Mauritius
island sovereign state off of East Africa in the Indian Ocean
Related events
- SEBI is investigating Adani Group for alleged stock market violations involving a fund based in Mauritius.
- State Bank of India is selling and holding shares in the NSE IPO, involving Mauritius.
- Base Markets was incorporated in Mauritius and regulated by the Financial Services Commission (FSC) Mauritius.
- High-level officials from India and Mauritius are working to strengthen the bilateral partnership.
- A conference concerning waqf management and investment has concluded, involving Mauritius.