Coromandel International promoter sells co's shares worth nearly Rs 470 cr

Coromandel International promoter sells co’s shares worth nearly Rs 470 cr


E I D Parry India Ltd, a promoter of Coromandel International, on Wednesday sold more than 58 lakh shares of the company worth over Rs 469 crore through an open market transaction.
As per the bulk deal data available on the BSE, E I D Parry offloaded 58.50 lakh shares of the company at an average price of Rs 803.19 per share. This translates into a total deal value of Rs 469.86 crore.

According to the shareholding pattern at the end of September quarter, E I D Parry held 58.42 per cent stake in Coromandel International as a promoter.

Shares of Coromandel International fell nearly six per cent to close at Rs 802.70 apiece on the BSE on Wednesday.

Separately, Societe Generale on Wednesday divested more than 1.44 crore shares of Punjab National bank (PNB) via an open market transaction.

According to the block deal data on the BSE, it sold 1,44,76,000 shares at an average price of Rs 33.5 apiece. At this price, the deal is worth around Rs 48.49 crore.

The shares were bought by Segantii India Mauritius at the same price in a separate transaction, the data showed.

On Wednesday, shares of PNB ended 1.36 per cent lower at Rs 32.75 apiece on the BSE.

Credit: Stocks-Markets-Economic Times

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