CLSA Mauritius sells stake in Essar Ports, Essar Shipping

Fund house sells 0.78% stake in Essar Ports, entire 1.28% stake in Essar Shipping—in deals worth over Rs.33 cr
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First Published: Tue, Feb 26 2013. 11 15 PM IST
CLSA Mauritius sold 2.62 million scrips of Essar Shipping to Leman Diversified Fund.
CLSA Mauritius sold 2.62 million scrips of Essar Shipping to Leman Diversified Fund.
Mumbai: Foreign fund house CLSA Mauritius Ltd on Tuesday sold shares in two firms—Essar Ports and Essar Shipping—in deals worth over Rs.33 crore.
The shares were sold through open market transactions on the stock exchanges.
CLSA Mauritius sold 3.35 million shares (amounting to 0.78%) of Essar Ports for an average price of Rs.83.84 apiece, valuing the deal at Rs.28.12 crore, according to information available with the stock exchanges.
The foreign fund house also offloaded its entire stake of 1.28% or 2.62 million scrips of Essar Shipping to Leman Diversified Fund. The shares were sold on an average price of Rs.21.25 aggregating to a deal size of Rs.5.58 crore, data showed.
As of December quarter, CLSA Mauritius held 5.25 million shares or 1.23% in Essar Ports.
On BSE, shares of Essar Ports rose 0.24% to settle at Rs.85, while Essar Shipping scrips plunged 6.46% to close at Rs.21.
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First Published: Tue, Feb 26 2013. 11 15 PM IST
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