McNally Bharat Engineering Company today said it has reduced its stake in McNally Sayaji Engineering to 77.50 per cent in an off-market deal.
"We have sold 3.83 lakh shares (a 9.82 per cent stake) of McNally Sayaji Engg to EIG (Mauritius) on August 12," the Kolkata-based engineering firm said in statement to the Bombay Stock Exchange (BSE).
After this off-market deal, McNally Bharat's holdings in McNally Sayaji Engineering has decreased to 77.50 per cent from 87.32 per cent. Through this stake-sale, McNally Bharat mopped up Rs 7.15 crore.
Shares of McNally Bharat Engineering were trading at Rs 163.85, down 0.43 per cent in the afternoon trade on the BSE.