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Mdhav A Chanchani
The firm sold its 13.5% stake in Fame for over Rs 14cr to Gulshan Investment and Shail Investments.
Singapore’s sovereign wealth fund Temasek Holdings’ has exited its investment in multiplex chain Fame India in two bulk deals on Friday.
The firm sold its 13.5% stake in Fame for a little more than Rs 14 crore to Gulshan Investment and Shail Investments. The identity of these two firms is not known.
Interestingly, Temasek had bought around 10% stake from PE firm India Value Fund in a secondary deal in 2005. The stake was then acquired at a share price of more than Rs 62.50. The stake was held by Temasek through two of its subsidiaries – Aranda Investments Mauritius Pte Ltd and Dunearn Investments Mauritius Pte Ltd. The shares of Fame India closed at Rs 30.75 on Friday, up by over 5%.
This will be the second open market exit for Temasek this year. Earlier, it sold its stake in container-freight stations’ operator Gateway Distriparks to a subsidiary of Allcargo Global Logistics.