Singapore's Nalanda Capital Trims Stake In Thermax For Rs 765 Crore
The foreign portfolio investor through its affiliate offloaded 15 lakh shares of Thermax at Rs 5,100.26 apiece.
Singapore-based Nalanda Capital on Friday divested 1.2% stake in energy and environment solutions provider Thermax Ltd. for Rs 765 crore through open market transactions.
The foreign portfolio investor, through its affiliate Nalanda India Equity Fund Ltd., offloaded 15 lakh shares of Thermax at Rs 5,100.26 apiece, according to bulk deal data on the BSE.
The firm had 6.86% shareholding in the Pune-based company as of March.
SBI Mutual Fund acquired 13.74 lakh shares, representing 1.15% equity, for Rs 700.9 crore. The shares were acquired at an average price of Rs 5,100 per piece.
Thermax reported an over 20% rise in its consolidated net profit at Rs 188 crore in the January-March quarter on the back of higher revenue. Its consolidated income during the quarter also rose to Rs 2,818.93 crore from Rs 2,368.31 crore in the year-ago period.
The order booking for the quarter was 2% higher at Rs 2,309 crore, as compared with Rs 2,254 crore in the year-ago quarter.
Shares of Thermax closed 0.65% lower at Rs 5,227.05 apiece, as compared with a 2.16% advance in the benchmark BSE Sensex.
