Capital Group Sells Polycab India’s Shares Worth Rs 337 Crore

Financial services company Capital Group on Thursday sold shares of electrical goods company Polycab India for Rs 337 crore through an open market transaction.

U.S.-based Capital Group through its affiliate SmallCap World Fund Inc offloaded shares of Polycab India on the National Stock Exchange.

According to the bulk deal data with the NSE, SmallCap World Fund Inc disposed of 8,51,003 shares of Polycab India.

The shares were offloaded at an average price of Rs 3,955.87 apiece, taking the deal value to Rs 336.64 crore.

Details of the buyers could not be ascertained.

On Thursday, the scrip of Polycab India nosedived 20.50% to close at Rs 3,904.70 per piece on the NSE. P