Voltamp Transformers' promoter pares 12 pc stake worth Rs 562 crore

Following the stake sale, shares of Voltamp Transformers plunged 5.54 per cent to close at Rs 4,672.65 apiece on the BSE.According to the bulk deal data available with the BSE, Kunjal Lalitkumar Patel promoter sold 12,14,100 shares, amounting to a 12 per cent stake in the company.The shares were offloaded at an average price of Rs 4,633.09 apiece, taking the deal size to Rs 562.50 crore.

A promoter of Voltamp Transformers on Tuesday divested a 12 per cent stake in the company for Rs 562 crore through an open market transaction. Following the stake sale, shares of Voltamp Transformers plunged 5.54 per cent to close at Rs 4,672.65 apiece on the BSE.

According to the bulk deal data available with the BSE, Kunjal Lalitkumar Patel (promoter) sold 12,14,100 shares, amounting to a 12 per cent stake in the company.

The shares were offloaded at an average price of Rs 4,633.09 apiece, taking the deal size to Rs 562.50 crore. After the transaction, Kunjal Lalitkumar Patel's shareholding has declined to 37.8 per cent from 49.8 per cent stake. The combined shareholding of the promoter and promoter group has also reduced to 38 per cent from 50 per cent. Meanwhile, Kotak Mahindra Mutual Fund, Nordea 1 Sicav, Manulife Global Fund India Equity Fund, Oxbow Master Fund Ltd, Vittoria Fund-OC, LP and Société Générale bought 7.03 lakh shares at an average price of Rs 4,632 apiece. This took the total deal value to Rs 325.74 crore.

In a separate bulk deal on the NSE, three promoters of HLE Glascoat Ltd sold shares of the company for Rs 125 crore through open market transactions. Nilesh Khushalbhai Patel, Himanshu Khushalbhai Patel and Harsh Himanshubhai Patel disposed of 24,75,248 shares, amounting to a 3.6 per cent stake in HLE Glascoat.

The shares were sold in the range of Rs 505-505.84 apiece, taking the combined transaction value to Rs 125.08 crore, as per NSE data. Meanwhile, DSP Mutual Fund acquired more than 24 lakh shares of HLE Glascoat at an average price of Rs 505 apiece, taking the deal size to Rs 121.25 crore. On Tuesday, shares of HLE Glascoat declined 4.06 per cent to settle at Rs 558.80 per piece on the NSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)