Two promoters of consumer electrical goods maker Havells India today sold 2 per cent stake in the firm for over Rs 647 crore through open market transactions.
According to bulk deal data available with BSE, Surjit Kumar Gupta, a promoter of Havells India, offloaded 40 lakh shares amounting to 0.64 per cent stake in the firm.
Another promoter Vinod Gupta disposed of 85 lakh shares or 1.36 per cent stake in the firm.
Surjit Kumar Gupta sold the shares at an average price of Rs 517.58, which valued his transaction at Rs 207.03 crore, while Vinod Gupta offloaded the shares at Rs 518.07 apiece, translating into a deal size of Rs 440.36 crore.
The cumulative transaction of the two promoters amounts to Rs 647.39 crore.
The data also showed that SBI Mutual Fund bought 45.20 lakh shares of Havells India for Rs 233.68 crore.
Havells India stock settled for the day at Rs 522.05 on BSE, down 5.62 per cent from the previous close.
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