 "Small Cap World Fund pares 2% stake in Bajaj Electricals for Rs 234 cr")
Small Cap World Fund on Wednesday divested nearly 2 per cent stake in electrical equipment manufacturing company Bajaj Electricals for Rs 234 crore.
According to the bulk deal data available with the BSE, Small Cap World Fund Inc offloaded more than 22.36 lakh shares, amounting to 1.94 per cent stake in the firm.
The shares were sold at an average price of Rs 1,045 apiece, taking the transaction value to Rs 233.76 crore.
Post the latest transaction, Small Cap World Fund's shareholding has reduced to 3.36 per cent from 5.30 per cent (as of March quarter) in the Mumbai-based firm.
Shares of Bajaj Electricals settled 2.40 per cent higher at Rs 1,068.60 apiece on the BSE.
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