Indian alternative asset manager IDFC Alternatives has sold approximately four percent of its stake in Gujarat Pipavav Port (Pipavav), the operator of India’s Port Pipavav, through a share sale on India’s National Stock Exchange. IDFC originally invested in Pipavav, which is also listed on the Bombay Stock Exchange, through the India Development Fund and IDFC Private Equity Fund II. In this latest transaction, IDFC divested holdings in both funds valued over INR1.005 billion (approximately US$18.8 million). IDFC currently holds slightly more than one percent of the company.