Two Shareholders Offload Stake Worth Rs 318 Crore In Arvind Fashions

Among the buyers were Goldman Sachs India Equity Portfolio and ICICI Prudential Life Insurance Co.

Arvind Fashions Ltd. (Source: Company website)

Two public shareholders of Arvind Fashions Ltd. sold stakes worth Rs 318.28 crore on Wednesday, according to BSE bulk deal data. 

Plenty Private Equity Fund I Ltd. sold 37.55 lakh shares, or 2.82% stake, at Rs 575 apiece. Plenty CI Fund I Ltd. sold 17.76 lakh shares, or 1.33% stake, at Rs 576.1 per share. 

Among the buyers were Goldman Sachs Funds arm Goldman Sachs India Equity Portfolio, which bought 13.11 lakh shares, or 0.98% stake, at Rs 574.73 apiece. 

ICICI Prudential Life Insurance Co. bought 43.48 lakh shares, or 3.27% stake, at Rs 574.85 per share.

As of the June quarter, Plenty Private Equity Fund I held 5.64% stake in the apparel maker, while Plenty CI Fund I held 2.67%.

The share price indicates that Plenty Private Equity Fund I and Plenty CI Fund I sold their holdings at a discount of 0.84% and 0.65% respectively.

Shares of the company closed 0.70% lower at Rs 583.95 per share, compared to a 0.49% decline in the NSE Nifty 50. The stock has risen 74.37% year-to-date and 42.37% over the past 12 months.

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WRITTEN BY
Neha Aravind
Neha Aravind is a desk writer at NDTV Profit, who covers business and marke... more
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