Some private equity firms are selling their stake in Indian shipbuilder Pipavav Shipyard Ltd (PIPA.BO) after a lock-in period to hold shares ended, its top official told Reuters on Friday.
New York Life Insurance, Trikona Capital, Indus Capital, Standard Chartered Private Equity and Citadel are among companies hold 100 million shares among them, Nikhil Gandhi, chairman of Pipavav, told Reuters.
He said was not aware of who is selling, with the details expected to be available on Monday, he said.
Its shares fell nearly 11 percentto 84.25 rupees in a firm Mumbai market.
New York Life Insurance, Trikona Capital, Indus Capital, Standard Chartered Private Equity and Citadel are among companies hold 100 million shares among them, Nikhil Gandhi, chairman of Pipavav, told Reuters.
He said was not aware of who is selling, with the details expected to be available on Monday, he said.
Its shares fell nearly 11 percentto 84.25 rupees in a firm Mumbai market.