Singapore's Nalanda Capital Sells Rs 209 Crore Stake In GE Shipping
The shares were disposed of at an average price of Rs 1,045.14 apiece, taking the deal value to Rs 209 crore.
Singapore-based Nalanda Capital on Wednesday divested a 1.4% stake in Great Eastern Shipping Company for Rs 209 crore through an open market transaction. Investment firm Nalanda Capital through its arm Nalanda India Fund Ltd offloaded its stake via a bulk deal on the BSE. As per the data on the BSE, Nalanda India Fund sold 20 lakh shares, representing a 1.4% stake in Great Eastern Shipping Co Ltd.
The shares were disposed of at an average price of Rs 1,045.14 apiece, taking the deal value to Rs 209 crore.
After the stake sale, shareholding of Nalanda Capital in GE SHIP has declined to 5.97% from 7.37%.
Meanwhile, Ghisallo Master Fund LP bought 9.94 lakh shares of Mumbai-based GE Shipping Co Ltd.
Details of the other buyers could not be ascertained.
The scrip of Great Eastern Shipping Co rose 4.49% to settle at Rs 1,056.05 per piece on the BSE.
In May, Nalanda Capital divested a 1.4% stake in Great Eastern Shipping Co Ltd for Rs 190 crore.
