India Opportunities Growth Fund sold a 1.7% stake in Electrosteel Castings for Rs 219 crore through an open market transaction, reducing its stake to 3.08%.
New Delhi, Sep 9 (PTI) India Opportunities Growth Fund on Monday sold a 1.7 per cent stake in Electrosteel Castings for Rs 219 crore through an open market transaction.
According to the bulk deal data available on the National Stock Exchange (NSE), India Opportunities Growth Fund Ltd - Pinewood Strategy offloaded 1,05,00,000 shares, amounting to a 1.7 per cent stake in Electrosteel Castings.
The shares were disposed of at an average price of Rs 209.03 apiece, taking the transaction value to Rs 219.48 crore.
After the share sale, India Opportunities Growth Fund's stake in Electrosteel Castings has come down to 3.08 per cent from 4.78 per cent.
Details of the buyers of Electrosteel Castings shares could not be ascertained on the bourse.
Shares of Electrosteel Castings rose 5.68 per cent to close at Rs 221.80 apiece on the NSE.
Rediff.com » Market News » India Opportunities Fund Sells Electrosteel Castings Stake for Rs 219 Crore
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