Styrenix Performance Materials Promoter Sells Stake For Rs 540 Crore
Bulk deal data from the BSE revealed that Shiva Performance Materials offloaded 29 lakh shares, representing 16.49% stake in Styrenix Performance Materials.
The promoter of Styrenix Performance Materials—Shiva Performance Materials—divested 16.5% stake in the specialty chemicals manufacturer, garnering Rs 540 crore via an open market transaction.
Bulk deal data from the BSE revealed that Shiva Performance Materials offloaded 29 lakh shares, representing 16.49% stake in Styrenix Performance Materials.
The shares were sold at Rs 1,862.20 apiece, resulting in a transaction size of Rs 540.04 crore. Following the sale, Shiva Performance Materials' stake in Styrenix Performance Materials decreased to 46.24% from 62.73%.
Motilal Oswal Mutual Fund, Bandhan MF, Nippon India MF, Enam Investment & Services, Ikigai Emerging Equity Fund, SageOne Investment Managers, and Bengal Finance & Investment were among the buyers of Styrenix Performance Materials shares.
Shares of Styrenix Performance Materials fell 3.47% to close at Rs 1,960.80 apiece on the BSE.
In a bulk deal data on the BSE, Meenakshi Gupta and Dhruv Gupta, promoters of SG Mart, divested a 5.4% stake in the company for Rs 268 crore through open market transactions.
As per the data available, Meenakshi and Dhruv Gupta sold a total of 60.75 lakh shares, amounting to a 5.4 per stake in SG Mart.
The shares were offloaded in the price range of Rs 440-442.28 apiece, taking the combined transaction value to Rs 268.14 crore.
After the stake sale, the shareholding of Gupta in SG Mart has declined to 47.25% from 52.69%.
Additionally, SG Logistic Management and renowned investor Ashish Rameshchandra Kacholia acquired a total of 34.10 lakh shares in SG Mart. The details of the other purchasers of SG Mart's shares remain unknown.
(With inputs from PTI)
