Bata India's promoter divests 2.56% stake, sells shares worth Rs 613 cr

The shares were picked by a clutch of domestic mutual funds, foreign investors and an insurance company

BATA (BN) B V, the promoter of Bata India, on Wednesday divested 2.56 per cent stake of the footwear company for nearly Rs 613 crore through open market transactions.
 

The shares were picked by a clutch of domestic mutual funds (MFs), foreign investors and an insurance company.
 

The entities that purchased stake are Tata MF, Mirae Asset MF, HDFC MF, Axis MF, Aditya Birla Sunlife MF, Kotak MF, HDFC Standard Life Insurance Co Ltd, Ghisallo Master Fund LP, Integrated Core Strategies (ASIA) Pte Ltd, Segantii India Mauritius, Societe Generale and Copthall Mauritius Investment Ltd, block deal data available with the BSE showed.
 

According to the data, the promoter sold a total of 32.95 lakh shares, amounting to 2.56 per cent stake of the company.
 

The shares were offloaded on an average price of Rs 1,860 apiece, aggregating the transaction size to Rs 612.87 crore.
 

As on March 31, 2022, BATA (BN) B V held 52.96 per cent stake in the company, domestic mutual funds owned 19.46 per cent holding, insurance companies had 7.92 per cent and foreign portfolio investors owned 6.66 per cent stake, shareholding data with the exchange showed.
 

Shares of Bata India closed at Rs 1,850.30 on the BSE on Wednesday, down 1.46 per cent from the previous close.