Transformers & Rectifiers India Promoter Sells 1.8% Stake

New Delhi, Oct 14 (PTI) A promoter of Transformers and Rectifiers (India) on Monday sold a 1.8 per cent stake in the company for Rs 211 crore through an open market transaction.

According to the block deal data available on the National Stock Exchange (NSE), Jitendra Mamotra, one of the promoters of Transformers and Rectifiers (India), sold 27 lakh shares, amounting to a 1.8 per cent stake in the company.

The shares were offloaded at an average price of Rs 780.30 apiece, taking the transaction value to Rs 210.68 crore.

After the share sale, Jitendra Mamotra's holding in Transformers and Rectifiers (India) has come down to 31.3 per cent from 33.10 per cent.

Additionally, the combined shareholding of promoters of Transformers and Rectifiers (India) has also declined to 64.36 per cent from 66.16 per cent.

PGIM Mutual Fund, Prudential Financial, New York State Teachers Retirement System, Societe Generale and Stallion Asset Pvt Ltd have acquired these shares on the NSE.

Shares of Transformers and Rectifiers (India) rose 5 per cent to close at Rs 819.30 apiece on the NSE.