Westbridge Capital sells 2.07% of equity of CEAT worth Rs.73 crore
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New Delhi, Aug. 21 -- Private Equity firm Westbridge Capital through its investment arm, Jwalamukhi Investment Holdings, offloaded 8.38 lakh shares or 2.07% equity stake in CEAT Ltd for Rs.73 crore, via bulk deals.
Jwalamukhi Investment Holdings sold 8.38 lakh equity shares in the company at an average price of Rs.871.26 per share on the stock exchanges, the bulk deals data showed.
According to the latest shareholding, Jwalamukhi Investment Holdings held 5.77% equity stake in the company.
CEAT Ltd reported a consolidated loss of Rs.34.8 crore as against a net profit of Rs.82.6 crore in the corresponding quarter last year. Consolidated revenue fell 36% to Rs.1,120.16 crore, as against Rs.1,752.10 crore last year.
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