MUMBAI - Minda Corporation has sold a significant portion of its holdings in Pricol Ltd, resulting in its stake being reduced from 15.70% to just 0.63%. The transaction took place today on the National Stock Exchange (NSE) and involved several block deals. Notable buyers included major investment firms such as Goldman Sachs Fund, Aditya Birla Sun Life Trustee, ICICI Prudential MF, and Fidelity India Fund.
The shares were sold at an average price of Rs 343.50 each. Following the sale, Pricol's stock experienced a surge in value, closing at Rs 367.05 ($1 = ₹83.17) on the NSE, which is nearly a 3% increase from the selling price. This stake sale marks a significant change in the shareholding pattern of Pricol Ltd, with a diverse set of institutional investors now holding the shares previously owned by Minda Corporation.
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