Two Shareholders Offload Stake Worth Rs 318 Crore In Arvind Fashions

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.