Indivest sells 1.94 cr shares of Adani Ports for Rs 290 cr

Indivest, an affiliate of Government of Singapore Investment Corporation, today offloaded 1.94 crore shares of Adani Ports & Special Economic Zone for over Rs 290 crore.

According to information available with the stock exchanges, Indivest Pte Ltd sold 1.94 crore shares, amounting to 0.96% stake, of Adani Ports through market transaction.

The shares were sold on an average price of Rs 150 valuing the transaction to Rs 290.62 crore, the data showed.

As of the January-March quarter, Indivest held 3.55 crore shares, equivalent to 1.78% stake in Adani Ports.

Adani Ports, on June 5, complied with the market regulator Sebi's 25% public shareholding norm by diluting its promoter's 3.33% stake through institutional placement programme (IPP).

Earlier, the Securities and Exchange Board of India (Sebi) had passed order against promoters of 105 companies including Adani Ports that failed to achieve a 25% public holding by June 3.

Shares of Adani Ports today declined by 0.43% to close at Rs 152 apiece on the BSE.