Advent International’s arm exits India’s Aditya Birla Capital, exchange data shows

U.S.-based private equity investor Advent International’s affiliate Jomei Investments has exited its entire 2% equity stake in India’s Aditya Birla Capital, exchange data showed on Tuesday.

Jomei sold its 53.2 million shares in the Indian financial services firm at 308 rupees per share, valuing the sale at 16.39 billion rupees ($186.47 million), according to Reuters calculations.

The floor price is at a discount of 1.5% from Aditya Birla’s last close of 312.6 rupees.

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Aditya Birla Capital and Advent International did not immediately respond to Reuters’ requests for comment.

Earlier in June, Advent International sold a 1.4% stake in Aditya Birla Capital at a discounted floor price of 237.8 rupees per share, raising 8.56 billion rupees.