Goldman Sachs Exits ISGEC Heavy Engineering: Sells 1.4% Stake for Rs 96 Crore

New Delhi, Feb 20 (PTI) Global investment banking major Goldman Sachs on Thursday exited ISGEC Heavy Engineering, by selling its 1.4 per cent stake in the company for Rs 96 crore through an open market transaction.

US-based Goldman Sachs through its arm Goldman Sachs Funds -- Goldman Sachs India Equity Portfolio sold 10.43 lakh shares, or 1.42 per cent stake, in ISGEC Heavy Engineering, as per the bulk deal data available on the National Stock Exchange (NSE).

The shares were offloaded at an average price of Rs 915.49 apiece, taking the transaction value to Rs 95.50 crore.

Meanwhile, Nippon India Mutual Fund acquired 8.32 lakh shares, or 1.13 per cent stake, in Noida-based ISGEC Heavy Engineering.

The shares were picked up at an average price of Rs 915 apiece, taking the transaction size to Rs 76.21 crore.

Details of the other buyers of ISGEC Heavy Engineering's shares could not be ascertained.

On Wednesday, shares of ISGEC Heavy Engineering slipped 1.37 per cent to close at Rs 938 per piece on the NSE.