VST Industries Stake Sale: HDFC, DSP MF Offload 2.9% for Rs 152 Crore

New Delhi, Jan 2 (PTI) Two entities on Tuesday divested a 2.9 per cent stake in VST Industries Ltd for Rs 152 crore through open market transactions.

HDFC Mutual Fund (MF) and DSP MF were the entities that offloaded their shares in VST Industries.

VST Industries manufactures and sell cigarettes and unmanufactured tobacco.

According to the bulk deal data available with the BSE, HDFC Mutual Fund sold 2 lakh equity shares and DSP MF disposed of 2.50 lakh shares, amounting to a 1.3 per cent stake in VST Industries and 1.6 per cent stake in the company, respectively.

The shares were offloaded in the price range of Rs 3,390-3,390.13 apiece, taking the combined transaction value to Rs 152.55 crore.

Meanwhile, SBI MF acquired 2.25 lakh shares and promoter of Avenue Supermarts (DMart) Radhakishan Shivkishan Damani picked up more than 2.22 lakh shares of VST Industries at an average price of Rs 3,390 per share, as per the data.

This took the combined transaction value to Rs 151.84 crore.

Details of the other buyers could not be ascertained.

Shares of VST Industries rallied 20 per cent to close at Rs 4,065.30 per piece on the BSE.