Nalanda Capital Sells 1.4% Stake in Great Eastern Shipping for Rs 209 Crore

New Delhi, May 29 (PTI) Singapore-based Nalanda Capital on Wednesday divested a 1.4 per cent stake in Great Eastern Shipping Company for Rs 209 crore through an open market transaction.

Investment firm Nalanda Capital through its arm Nalanda India Fund Ltd offloaded its stake via a bulk deal on the BSE.

As per the data on the BSE, Nalanda India Fund sold 20 lakh shares, representing a 1.4 per cent stake in Great Eastern Shipping Co Ltd (GE SHIP).

The shares were disposed of at an average price of Rs 1,045.14 apiece, taking the deal value to Rs 209 crore.

After the stake sale, shareholding of Nalanda Capital in GE SHIP has declined to 5.97 per cent from 7.37 per cent.

Meanwhile, Ghisallo Master Fund LP bought 9.94 lakh shares of Mumbai-based GE Shipping Co Ltd.

Details of the other buyers could not be ascertained.

The scrip of Great Eastern Shipping Co rose 4.49 per cent to settle at Rs 1,056.05 per piece on the BSE.

In May, Nalanda Capital divested a 1.4 per cent stake in Great Eastern Shipping Co Ltd for Rs 190 crore.