 "Mentor Capital sells majority of its stake in Panasonic Appliances")
Investment firm Mentor Capital Ltd has sold almost 72.5 per cent of its total shareholding in Panasonic Appliances India, worth Rs 17.37 crore, through block deal. The shares were picked up by various firms including Mehrangarh Financial Advisors Pvt Ltd and Maruti Traders and Investors.
According to information available with National Stock Exchange, Mentor Capital has sold 7,10,000 shares in Panasonic Appliances India Company Ltd for Rs 244.7 per share. Mentor Capital had a total of 9.79 lakh shares in the company, which was around 9.96 per cent of the total equity shares in the company.
It may be noted that Panasonic Appliances has recently announced plans to delist from exchanges, subject to various approvals. The Indian partners, Obul Reddy Group has also exited from the company, following this.