TPG through its affiliate TPG ASIA SF V Pte has divested its entire 9.86% stake in Shriram Properties for Rs 190 crore through an open market transaction. TPG through its affiliate TPG ASIA SF V Pte has sold 1,67,56,351 shares. The shares were disposed of at an average price of Rs 113.40 apiece. Tara Emerging Asia Liquid Fund and BNP Paribas Arbitrage picked up a total of 19,62,732 shares of Shriram Properties.
Shriram Properties is one of the leading residential real estate development companies in South India, primarily focused on the mid-market and affordable housing categories.
