Promoters of Bajaj Auto today sold over 10 lakh shares to another promoter entity Bajaj Holdings & Investment in a bulk open market deal valued about Rs 180.45 crore, a move that will consolidate their stake.
As per the block deal data available with the Bombay Stock Exchange (BSE) today, five promoters of Bajaj Auto sold 10,47,500 shares at a price between Rs 1,715 and Rs 1,730 per share.
Bajaj Holdings & Investment bought these shares in a block deal in the same price range. The deal is valued worth Rs 180.45 crore.
Bajaj Holdings & Investment is promoter group entity of Bajaj Auto--the country's second-largest two-wheeler maker.
The promoters, who sold their shares in Bajaj Auto include Shekhar Bajaj, Geetika Bajaj, Ruparani Bajaj, Anant Bajaj and Anant Trust.
Promoters stake in Bajaj Auto at the end of December quarter stood at 49.62 per cent, as per BSE data. Bajaj Auto closed at Rs 1,748.40, up 1.35 per cent on the BSE today.
In separate block deals on the BSE, Rahul Bajaj, promoter of Group company Bajaj Electricals sold his 35,35,000 shares to Shekhar Bajaj, another promoter through open market deal.
Rahul Bajaj sold 18,60,000 shares at a price of Rs 182.65 per piece. He offloaded another 16,75,000 equities at a price of Rs 185 per piece. Shekhar Bajaj and Anant Bajaj bought these shares in the same price range.
Rahul Bajaj also sold his 3,25,000 shares in Hercules Hoists at a price of Rs 221 per piece. These shares were bought by Baja Auto Holdings, as per the BSE data.
