Ambuja Cements Sells 2% Stake In Sanghi Industries
The move was undertaken to ensure the minimum shareholding norm.
Ambuja Cements Ltd. on Friday offloaded 2% stake in Sanghi Industries Ltd. in the open market.
The company sold 51,66,000 equity shares for Rs 258.32 crore between March 14 and March 21, Sanghi Industries said in an exchange filing on Tuesday. The shares were sold on both the BSE and NSE.
The company's stake after the sale fell to 60.44%, representing 15,61,37,102 equity shares from the earlier 16,13,03,102 equity shares.
After the stake sale, the promoters' holding fell to 78.52% from the earlier 80.92% and the public holding rose to 21.48%.
Shares of Sanghi Industries ended 0.57% up at Rs 88.45 apiece, while those of Ambuja Cements closed 0.37% higher at Rs 589.35 apiece on Friday. This compares with a 0.39% advance in the NSE Nifty 50 index.
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