ChrysCapital Starts Selling Stake in JMT Auto (Asia)
Source: VCCircle | Author: Madhav A Chanchani
ChrysCapital, an investment firm that focuses on growth sectors in India, has started selling its stake in India-based automobile component manufacturer JMT Auto, exiting 1.49 million shares, or a little over a ten percent stake, through block deals for INR192 million (approximately US$3 million). ChrysCapital originally invested in the company in 2006 and will make a reported marginal profit of 30 percent on its investment. The stake sale comes after automobile components maker Amtek Auto signed a share-purchase agreement with the promoters of JMT Auto in June of this year to acquire their entire 51.2 percent stake for around INR1.1 billion (approximately US$17.3 million).