Radhakishan S. Damani, through his two arms, offloaded a stake worth Rs 142 crore in VST Industries Ltd. via open market transactions on Wednesday.
While Derive Trading and Resorts Pvt. sold a 1.7% stake worth Rs 4,102.57 apiece, Damani Estate and Finance Pvt. offloaded 0.9 lakh shares, representing a 0.58% stake at Rs 3,983.84 apiece.
Derive Trading and Resorts, owned by Damani as of June 2024, held a 5.24% stake in the cigarette manufacturing and distribution firm. Damani Estate and Finance held a 0.60% stake in the company.
The DMart founder directly owns a 3.47% stake in the company. He owns a 36.33% stake in the firm through Bright Star Investments Pvt., Derive Investments, Radhakishan Shivkishan Damani, Derive Trading and Resorts, Gopikishan S Damani, Damani Estates and Finance, Gulmohar Private Beneficiary Trust, Karnikar Private Beneficiary Trust, Bottle Palm Private Beneficiary Trust, Royal Palm Private Beneficiary Trust and Mountain Glory Private Beneficiary Trust.
The billionaire had acquired a 1.51% stake in the company in April for Rs 86.25 crore.
Shares of the company closed 16.78% higher at Rs 3,881.65 apiece, as compared to a 0.16% decline in the NSE Nifty 50. The stock has risen 14.72% year-to-date and 5.37% over the past 12 months.
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