Nalanda Capital cuts stake in Shree Cement, India

Nalanda Capital has sold around half of its holding (3.25%) in Shree Cement. The fund sold around 1.61 per cent or 561316 shares for INR3800.84 per share, aggregating around INR213.33 crore through bulk deal on the Bombay Stock Exchange.

Nalanda Capital made around 2x returns from this share sale. It invested in the company between June and September 2011 when the prices were hovering between INR1600-1800 crore.