Trinity Capital makes 1% stake exit from India's Pipavav Shipyard

Trinity, which launched in 2006 to invest in areas such as office, retail, hospitality and residential targets, still owns approximately 3% of Pipavav Shipyard, been promoted and developed by the SKIL Group. Trinity picked up its stake in January 2007, and sold its 1% portion on the public market.

The news is part of a wider divestment movement from other PE backers in the asset, which launched a $100 million listing on India's Bombay Stock Exchange last year and maintained a one-year lock-up period for investors until September 30. Other private equity investors include Indus Capital, New York Life Insurance, Standard Chartered Private Equity and Trikona Capital, and Pipavav Shipyard chairman Nikhil Gandhi said that it was not yet clear which firms will also exit. He further noted that Pipavav Shipyard has seen a 100% increase in its share price following the IPO.

 

Further reading

India's Pipavav Shipyard sees private equity exit

• South Asia
• 04 Oct 2010

Private equity-backed Gujarat Pipavav Port makes strong debut onto Indian stock exchange

• Infrastructure
• 09 Sep 2010

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• Topics
• Exits
• South Asia
• Standard Chartered Private Equity