Latest News | Jubilant Group Promoters Sell Shares Worth Rs 1,801 Crore

New Delhi, Jun 13 (PTI) Food-to-pharma firm Jubilant Group promoter entities offloaded shares of Jubilant FoodWorks, Jubilant Ingrevia and Jubilant Pharmova worth Rs 1,801 crore through separate open market deals on Friday.

According to the block deal data available on the NSE, Jubilant Consumer, one of the promoters of Jubilant FoodWorks Ltd (JFL), sold 1.06 crore equity shares, amounting to a 1.61 per cent stake in Noida-based JFL.

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Also, three promoter entities of Jubilant Ingrevia -- Jubilant Enpro, Nikita Resources and Shyam Sunder Bhartia Family Trust -- collectively sold 98.65 lakh shares or 6.2 per cent stake in the company, as per another block deal on the NSE.

In addition, Jubilant Enpro and Nikita Resources -- promoters of Jubilant Pharmova -- disposed of 32.86 lakh shares, representing a 2.06 per cent holding in the firm, through a bulk deal on the exchange.

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The shares were offloaded in the price range of Rs 662-1,060.37 apiece, taking the combined transaction value to about Rs 1,800.98 crore.

Following the stake sale, the combined holding of Jubilant Group in JFL dipped to 40.33 per cent from 41.94 per cent, and its stake in Jubilant Ingrevia declined to 45.27 from 51.47 per cent.

Also, the combined shareholding of promoters of Jubilant Pharmova slipped to 48.12 per cent from 50.68 per cent.

Meanwhile, Societe Generale, Morgan Stanley, Kotak Mahindra Mutual Fund (MF), ICICI Prudential Life Insurance, Bandhan MF, Axis MF, HDFC MF, Bajaj Allianz Life Insurance, and Canada-based pension fund AIMCo (Alberta Investment Management Corporation), among others, were the buyers of JFL, Jubilant Ingrevia shares.

Additionally, Kotak Mahindra MF picked up 32.86 lakh shares or a 2.06 per cent stake in Jubilant Pharmova. Details of the other buyers of Jubilant Pharmova's shares could not ascertained.

On the NSE, the shares of Jubilant Ingrevia climbed 15.09 per cent to close at Rs 784.90 apiece, and Jubilant FoodWorks scrip rose 2.12 per cent to end at Rs 682 apiece.

However, the scrip of Jubilant Pharmova fell 2.97 per cent to settle at Rs 1,092.20 per piece on the bourse.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)