Actis Sells Its Remaining Stake in Phoenix Lamps to Suprajit Engineering (Asia)
Source: Phoenix Lamps, VCCircle | Author(s): Anuradha Verma
Pan-emerging markets private equity firm Actis has sold its remaining stake in India-listed automotive lighting company Phoenix Lamps to auto component manufacturer Suprajit Engineering via an off market sale for INR271.2 million (approximately US$4.2 million). Actis sold its 10.88 percent stake at a share price of INR89 (approximately US$1.40).