NEW DELHI: Bharti Group entity Cedar Support Services on Thursday sold 6 in step with cent stake in Kishore Biyani-led Future Retail for just about Rs 1,697 crore, thru open market transactions.
According to the majority deal information to be had with the NSE, Cedar disposed of three.03 crore stocks, amounting to 6.04 in step with cent stake in Future Retail.
The stocks had been offloaded at an average value of Rs 560.01, valuing the transaction at Rs 1,696.83 crore.
At the top of March quarter of 2017-18, Cedar held 4.63 crore stocks, or nine.23 in step with cent stake, in the Kishore Biyani-led company.
Among the consumers of the stocks was once Pi Opportunities Fund I and Pioneer Investment Fund.
Pi Opportunities Fund I bought 2.27 crore stocks at an average value of Rs 560 for a total of Rs 1,272.71 crore.
Pioneer Investment Fund picked up 71.43 lakh stocks at an average value of Rs 560 for Rs 400 crore.
Last month, Cedar had exited a Kishore Biyani-led company -- Future Enterprises -- by selling its 13.64 in step with cent stake for an estimated sum of over Rs 240 crore.
Separately, the majority deal information at the BSE confirmed that Cygnet Industries sold 12.89 lakh stocks of Century Textiles & Industries for Rs 120.36 crore.
All the stocks had been bought by Pilani Investment and Industries Corporation.
According to the majority deal information to be had with the NSE, Cedar disposed of three.03 crore stocks, amounting to 6.04 in step with cent stake in Future Retail.
The stocks had been offloaded at an average value of Rs 560.01, valuing the transaction at Rs 1,696.83 crore.
At the top of March quarter of 2017-18, Cedar held 4.63 crore stocks, or nine.23 in step with cent stake, in the Kishore Biyani-led company.
Among the consumers of the stocks was once Pi Opportunities Fund I and Pioneer Investment Fund.
Pi Opportunities Fund I bought 2.27 crore stocks at an average value of Rs 560 for a total of Rs 1,272.71 crore.
Pioneer Investment Fund picked up 71.43 lakh stocks at an average value of Rs 560 for Rs 400 crore.
Last month, Cedar had exited a Kishore Biyani-led company -- Future Enterprises -- by selling its 13.64 in step with cent stake for an estimated sum of over Rs 240 crore.
Separately, the majority deal information at the BSE confirmed that Cygnet Industries sold 12.89 lakh stocks of Century Textiles & Industries for Rs 120.36 crore.
All the stocks had been bought by Pilani Investment and Industries Corporation.
Bharti Group entity sells Future Retail stake worth Rs 1,697 crore
![Bharti Group entity sells Future Retail stake worth Rs 1,697 crore]()
Reviewed by Kailash
on
June 08, 2018
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