India-focused private equity firm Zephyr Peacock India has partially exited its stake in India-based pre-engineered steel building manufacturer Pennar Engineered Building Systems in an initial public offering (IPO) on the National Stock Exchange and the Bombay Stock Exchange, returning INR892 million (approximately US$13.5 million) to Zephyr Peacock. Zephyr Peacock originally invested in the company in 2013 through Zephyr Peacock India Fund III, which continues to hold a 6.7 percent stake in the company.