Major Stake Shake: Gravita India's Latest Transaction Highlights
A Gravita India promoter recently sold a 3.4% company stake for Rs 498 crore. Following the sale, Rajat Agarwal's ownership dipped to 32.39%. Meanwhile, Motilal Oswal Asset Management acquired 7.33 lakh shares. In a separate deal, Nippon India Mutual Fund bought a stake in Ramco Cements for Rs 195.98 crore.
- Country:
- India
On Friday, a notable transaction occurred as a Gravita India promoter divested a 3.4% stake, resulting in a Rs 498 crore deal. According to data from the NSE, Rajat Agarwal sold 25 lakh shares at an average price of Rs 1,991.52 each.
This significant sale reduced Agarwal's holding in Gravita India from 35.77% to 32.39%. Meanwhile, Motilal Oswal Asset Management Co stepped in, acquiring 7.33 lakh shares at an average price of Rs 1,991 per share, totaling Rs 145.98 crore.
In another bulk deal, Nippon India Mutual Fund purchased a 0.82% stake in Ramco Cements for Rs 195.98 crore, at an average price of Rs 1,005.03 each. The specifics of other buyers and sellers were not disclosed by the NSE.
(With inputs from agencies.)
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