Henderson Equity Partners Exits HSIL (Asia)
Source: VCCircle | Author: Madhav A. Chanchani
Henderson Equity Partners, the private equity arm of U.S.-based investment firm Henderson Global Investors, sold 8.2 percent of the equity shares of Indian sanitary products manufacturer Hindustan Sanitaryware & Industries Limited (HSIL) through a share sale on the Bombay Stock Exchange. The shares were valued at INR678.2 million (approximately US$12.3 million). Henderson had invested INR520 million (approximately US$9.5 million) in convertible debentures, equivalent to a 14.99 percent equity stake in the company in July 2005. In 2010, Henderson sold around 6 percent of HSIL’s shares for INR310 million (approximately US$5.6 million).