Minda Corp divests 15.07 pc stake in Pricol worth Rs 631 crore

Minda Corporation on Wednesday offloaded a 15.07 per cent stake in automotive components maker Pricol Ltd for around Rs 631 crore through an open market transaction.

ICICI Prudential Mutual Fund (MF), Fidelity India Fund, Tata MF, Aditya Birla Sun Life Insurance Company, Goldman Sachs India, City of New York Group Trust, and Carnelian Asset Management & Advisors, among others, were the buyers of Pricol's shares on the National Stock Exchange (NSE).

Minda Corporation Ltd sold more than 1.83 crore shares, amounting to a 15.07 per cent stake in Pricol, as per the block deal data available with the NSE.

The shares were disposed of at an average price of Rs 343.50 apiece, taking the transaction size to Rs 631.23 crore.

After the latest transaction, Minda Corporation's shareholding has declined to 0.63 per cent from a 15.70 per cent stake (at the end of December quarter) in the company.

The scrip of Pricol Ltd rose 3.35 per cent to close at Rs 380.50 apiece on the NSE.