Foreign institutional investors (FIIs) sold close to 6.7 million shares in the buyback offer of GTL at Rs 300 per share.The FII holding in the company, after the buyback, has declined to 21.08% (19,755,198 shares) from 26.04% (26,470,083 shares).According to a release issued by GTL to the BSE today, some of the major selling FIIs were Somerset India Fund - Vulpes Strategic that sold 2.10 million shares and Citigroup Global Markets Mauritius that sold 1.68 million shares.The stake of the promoters and individual investors increased to 34.70% (32,518,022 shares) and 16.11% (15,090,661 shares), respectively, after the buyback offer that closed on November 19.The company invested nearly Rs 259 crore to buy back 8.63 million shares, which saw the total shares outstanding decline to 93,700,575 shares from 101,634,763 shares.
