Saudi-based Balsharaf Group's officials sell stake in KRBL

Saudi Arabia-based Balsharaf Group's top officials today sold nearly 3 per cent stake in Basmati rice exporter KRBL Ltd for Rs 386 crore, through open market market transactions.
Among the buyers of the shares were funds of Indian- American businessman Mohnish Pabrai.
According to the bulk deal data available with BSE, Omar Ali Obeid Balsharaf and Abdullah Ali Obeid Balsharaf together offloaded 65 lakh shares or 2.76 per cent stake in KRBL. The two officials sold 32.50 lakh shares each.
The shares were disposed of at an average price of Rs 594, valuing the transaction at Rs 386.10 crore, the data showed.

Balsharaf's website mentions Omar Ali Obeid Balsharaf as the chairman of the Group and Abdullah Ali Obeid Balsharaf as the co-chairman.
Pabrai Investment Funds purchased 64.18 lakh shares of KRBL for Rs 381.26 crore.
KRBL stock ended the day on BSE at Rs 599.30, up 1.51 per cent from the previous close.