Havells India promoters sell 2% stake for Rs647 crore
Surjit Kumar Gupta, a promoter of Havells India, offloaded 40 lakh shares amounting to 0.64% stake in the firm while another promoter Vinod Gupta disposed of 85 lakh shares or 1.36% stake in the firm
New Delhi: Two promoters of consumer electrical goods maker Havells India on Wednesday sold 2% stake in the firm for over Rs647 crore through open market transactions.
According to bulk deal data available with BSE, Surjit Kumar Gupta, a promoter of Havells India, offloaded 40 lakh shares amounting to 0.64% stake in the firm. Another promoter Vinod Gupta disposed of 85 lakh shares or 1.36% stake in the firm.
Surjit Kumar Gupta sold the shares at an average price of Rs517.58, which valued his transaction at Rs207.03 crore, while Vinod Gupta offloaded the shares at Rs518.07 apiece, translating into a deal size of Rs440.36 crore. The cumulative transaction of the two promoters amounts to Rs647.39 crore.
The data also showed that SBI Mutual Fund bought 45.20 lakh shares of Havells India for Rs233.68 crore. Havells India stock settled for the day at Rs522.05 on BSE, down 5.62% from the previous close.
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