Transformers and Rectifiers Stake Dilution Shifts Promoters' Holdings

A promoter of Transformers and Rectifiers (India) sold a 1.8% stake for Rs 211 crore. Jitendra Mamotra offloaded 27 lakh shares, reducing his stake to 31.3%. The total promoters' holdings decreased from 66.16% to 64.36%. Notable buyers included PGIM Mutual Fund and others, driving a 5% share price increase.

In a significant market transaction, a promoter of Transformers and Rectifiers (India) divested a 1.8% stake in the company, valued at Rs 211 crore. The move was executed through an open market sale on the National Stock Exchange, with Jitendra Mamotra selling 27 lakh shares.

This strategic offloading reduced Mamotra's holding to 31.3% from the previous 33.10%. Furthermore, the collective stake held by the company's promoters witnessed a decline, moving from 66.16% to 64.36%, following this sale.

Renowned investors such as PGIM Mutual Fund, Prudential Financial, and others were key buyers in this transaction, which led to a 5% rally in the company's share price, closing at Rs 819.30 on the NSE.

(With inputs from agencies.)