Promoter of Pyramid Saimira, P S Saminathan, has sold nearly 6.04% stake for Rs 6.42 crore, reducing his holding in the media and entertainment firm to about 18%.
In a disclosure to the Bombay Stock Exchange, the company said one of its promoters, Saminathan, has sold 17.07 lakh shares, representing 6.04% stake, in the company between December 20 and December 31, 2008.
After the off-market transaction, Saminathan's holding in Pyramid Saimira has come down to 17.99%, from 24.03% earlier. The Chairman and Managing director of Pyramid Saimira now hold over 50.86 lakh shares.
In another disclosure to the bourse, Pyramid Saimira said another promoter Uma Saminathan has offloaded her entire 0.54% holding in the three months ending December 2008, through off-market deals.
Uma Saminathan, has sold over 1.52 lakh shares for Rs 72.96 lakh between October 10, 2008 and December 1, 2008.
Last week, the company had said another promoter Nirmal Kotecha had sold nearly 10% in the company between November and December last year.
Post sell-off, Kotecha's holding in Pyramid Saimira had come down to 15.49% from 24.89%.
The stake sell-off follows promoters seeking a CBI probe into alleged manipulation in the company's stocks by its competitors.
Pyramid Saimira shares were trading at Rs 33.80, down 4.92% on the BSE.
