Nalanda Capital Sells 1.2% Stake in Thermax for Rs 765 Crore

New Delhi, Jun 7 (PTI) Singapore-based Nalanda Capital on Friday divested a 1.2 per cent stake in energy and environment solutions provider Thermax for Rs 765 crore through an open market transaction.

Investment firm Nalanda Capital through its affiliate Nalanda India Equity Fund Ltd offloaded shares of Thermax on the BSE.

As per the bulk deal data on the BSE, Nalanda India Equity Fund disposed of 15 lakh shares, amounting to a 1.2 per cent stake in Pune-based Thermax.

The shares were sold at an average price of Rs 5,100.26 apiece, taking the deal size to Rs 765.03 crore.

After the share sale, the shareholding of Nalanda Capital in Thermax has declined to 5.6 per cent from 6.86 per cent.

Meanwhile, SBI Mutual Fund purchased 13.74 lakh shares, representing a 1.15 per cent stake in Thermax.

The shares were acquired at an average price of Rs 5,100 per piece, taking the transaction value to Rs 700.92 crore.

Details of other buyers could not be ascertained.

Shares of Thermax fell 0.65 per cent to close at Rs 5,227.05 apiece on the BSE.