360 One WAM Promoters Sell 2.8% Stake for Rs 600 cr

New Delhi, Dec 4 (PTI) Promoters of wealth management firm 360 One WAM on Monday pared a 2.8 per cent stake in the company for Rs 600 crore through open market transactions.

Nirmal Bhanwarlal Jain, Madhu N Jain, and Venkataraman R are the promoters and promoter group of 360 One WAM and collectively sold 1 crore shares on the NSE.

According to the bulk deal data available with the NSE, Nirmal Bhanwarlal Jain offloaded 50 lakh shares, Madhu N Jain 30 lakh shares, and Venkataraman R 20 lakh shares, amounting to a 2.8 per cent stake in the company.

The shares were sold in the price range of Rs 600-600.24 apiece, taking the combined transaction value to Rs 600.13 crore.

Meanwhile, ICICI Prudential Mutual Fund acquired 35 lakh shares of 360 One WAM at an average price of Rs 600 per piece, taking the deal size to Rs 210 crore.

Details of other buyers of shares could not be ascertained.

Shares of 360 One WAM zoomed 8.14 per cent to settle at Rs 633.50 apiece on the NSE.