Pabrai Investment Funds has sold a part of its stake in real estate firm Kolte-Patil Developers, as per a stock market notification.
Value investor Mohnish Pabrai is founder and managing partner of US-based Pabrai Investments Funds.
Pabrai Investment Funds and others have sold 2.22 per cent stake in the developer. The deal value is roughly Rs 40 crore ($5.5 million).
Back in 2019, Pabrai Group had hiked its stake in the developer from 7 to 9.22 per cent.
Kolte Patil is headquartered in Pune and does residential, commercial and retail projects across Pune, Bengaluru and Mumbai.
Recently, Goldman Sachs sold 1.67 per cent of its stake in the developer for roughly Rs 30 crore.
Pabrai Investment Funds has sold stake in chemical manufacturing company Rain Industries, as per a stock market disclosure.
It has offloaded 2.09 per cent stake bringing its holding down to 5.95 per cent. The deal value is around Rs 130 crore ($18 million).
Prior to the deal, it held 8.04 per cent stake in the company. Rain Industries produces calcined petroleum coke, coal tar pitch and other basic and speciality chemicals.
Pabrai Investment Funds has been a long-term investor in the company.
Elevation Capital, formerly known as SAIF Partners, sold over 11.13 lakh shares in Pennar Industries for Rs 2.35 crore ($320,000) on National Stock Exchange on Wednesday.
According to the bourse, Elevation owned 1.13 crore shares representing 7.96% stake as of March 31.
On May 7, it had sold 2.24% stake after about 10 years of staying invested in the engineering products and solutions company.
Now, venture capital and growth equity investment firm Elevation holds 5.52% of Pennar Industries.
