India Β·
Livspace co-founder Ramakant Sharma raises his stake via a secondary share purchase
Sharma bought shares from more than 20 institutional backers, including KKR, TPG, Jungle Ventures, EDBI and Bessemer Venture Partners, diluting their stakes in the Indian home-interiors unicorn in a secondaries deal whose price was not disclosed.
A founder buying back shares from his own investor base is an unusual direction for a secondary trade, but it's a pattern worth watching: as India's unicorn cohort ages without IPO-ready liquidity events, some founders are using secondary purchases to consolidate control rather than dilute further.
The deal touched more than 20 institutional backers at once β a reminder that a single secondary transaction in a well-syndicated Indian startup can involve nearly as much coordination as a primary round, even when the company itself raises no new capital.
Source: DealStreetAsia β