The U.K.-based ASN Investments Ltd. sold another 1.24% stake in GMR Power and Urban Infra Ltd. for Rs 39.5 crore through open market transactions on Thursday for the second consecutive day.
The firm sold 75 lakh shares at Rs 52.75 apiece, according to bulk deal data on the NSE. Setu Securities Pvt. bought 40 lakh shares (0.66%) at Rs 52.50 apiece.
On Wednesday, ASN sold 2.31% stake in GMR Power for Rs 74.2 crore. The investment firm held a 7.27% shareholding in the GMR Group company as of September.
Last week, ASN Investments exited GMR Airports Infrastructure Ltd. by offloading its entire 7.27% stake for Rs 2,555 crore. The shares were sold at Rs 58.21 apiece.
The Rajiv Jain-backed GQG Partners picked up a 4.7% stake in the airport operator for Rs 1,671 crore.
In November, GMR Power increased its stake in its subsidiary, GMR Energy Ltd., for $28.5 million. Following this acquisition, the company consolidated its stake in GEL to 86.9%, up from about 57.76% held by it and its subsidiaries.
Shares of GMR Power and Urban Infra closed 0.51% lower at Rs 53.02 apiece on Thursday, as compared with a 1.34% advance in the BSE Sensex.
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