FILA Group Sheds 4.6% Stake in DOMS Industries for Rs 798 Crore

FILA Group, a major stakeholder in DOMS Industries, sold 4.6% of its shares for Rs 798 crore in the open market. The transaction reduces FILA's holdings in DOMS from 30.58% to 25.98%. Axis Asset Management and Axis Mutual Fund acquired 7.35 lakh shares, valuing Rs 211.46 crore.

Italian multinational corporation FILA Group, known for its portfolio of prominent art material brands, has reduced its stake in DOMS Industries. On Thursday, FILA divested 4.6% of its holding through an open market transaction, amounting to Rs 798 crore, as detailed by National Stock Exchange records.

The shares were sold in tranches at prices ranging from Rs 2,879.12 to Rs 2,879.47 each, leading to a significant decrease in FILA's DOMS Industries shareholding from 30.58% to 25.98%. As a result, the overall promoter group's stake also dropped from 74.96% to 70.36%.

Meanwhile, Axis Asset Management Company along with Axis Mutual Fund seized the opportunity to purchase 7.35 lakh shares at an average price of Rs 2,879 per share, totaling an investment of Rs 211.46 crore. Despite these transactions, DOMS Industries' share price fell by 4.07% to close at Rs 2,930.95 on the NSE.

(With inputs from agencies.)