V-Guard Promoter Sells 1% Stake for Rs 129 Crore

New Delhi, Dec 22 (PTI) A promoter of electricals and home appliances manufacturer V-Guard Industries on Friday sold 1 per cent stake in the company for Rs 129 crore through an open market transaction.

The shares were bought by Aditya Birla Sun Life Mutual Fund and Motilal Oswal Mutual Fund.

Chittilappily Thomas Kochouseph offloaded 45 lakh shares, amounting to a 1.04 per cent stake in V-Guard Industries, as per block deal data available with the National Stock Exchange (NSE).

The shares were disposed of at an average price of Rs 286 apiece, taking the aggregate deal value to Rs 128.70 crore.

After the latest transaction, Kochouseph's shareholding has declined to 9.43 per cent from 10.47 per cent stake in the company.

On Friday, shares of V-Guard Industries rose 1.64 per cent to close at Rs 291.85 apiece on the NSE.