Private shipbuilder ABG Shipyard today sold a 4.66 per cent stake in Great Offshore for Rs 64.50 crore through open market transactions.
As per bulk deal data available with the Bombay Stock Exchange (BSE), Eleventh Land Developers -- the wholly-owned subsidiary of ABG Shipyard -- sold 17,38,421 shares (4.66 per cent stake) of Great Offshore at Rs 371.08 per piece.
As per the disclosure details available with the stock exchanges, ABG had a 5.34 per cent stake in Great Offshore.
ABG Shipyard has been selling Great Offshore shares after it lost the takeover battle for the shipping services provider to rival Bharati Shipyard. Bharati Shipyard and ABG Shipyard were competing to acquire a majority stake in Great Offshore.
Shares of Great Offshore today tanked 5.84 per cent to close at Rs 371.50 on the BSE. On the other hand, ABG Shipyard ended 0.36 per cent higher at Rs 235.75.
According to BSE bulk deal data, foreign fund house Swiss Finance Corporation Mauritius today bought a 0.67 per cent stake in Great Offshore for Rs 9.42 crore.