Nicholas promoter firm divests 8% stake

Nandan Piramal Investments, a part of the promoter group of Nicholas Piramal, sold 90 lakh shares (totalling 4.75% of the paid-up equity of Nicholas Piramal) on February 28, 2005 and over 62.72 lakh shares (aggregating 3.301% equity) on March 1, 2005.

According to a release issued by Nicholas Piramal to the NSE today, the mode of sale is off-market deals.

"The shareholding of Nandan Piramal Investments in the company after the said sales is 8,05,614 shares, aggregating 0.424% of the total paid-up capital," the release added.