New Delhi, Aug 22 (PTI) SJS Enterprises promoter entity on Tuesday divested a 29.5 per cent stake in the decorative aesthetics solutions provider for nearly Rs 550 crore through open market transactions.

Aditya Birla Sun Life Mutual Fund (MF), Quant MF, Sundaram MF, Morgan Stanley Asia Singapore Pte, Societe Generale, Alchemy Emerging Leaders of Tomorrow and Florida Retirement System Allspring Global Investments LLC EMSC, among others were the buyers of shares of SJS Enterprises.

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Evergraph Holdings Pte offloaded a total of 91,64,033 shares in two tranches, amounting to a 29.52 per cent stake in SJS Enterprises, as per bulk deal data available with NSE.

The shares were sold in the range of Rs 600-600.06 apiece, taking the combined transaction value to Rs 549.86 crore.

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Post the transaction, Evergraph Holdings Pte shareholding has declined to 4.63 per cent from 34.15 per cent stake, while the combined shareholding of the promoters and promoter group has reduced to 21.81 per cent from 51.33 per cent equity in SJS Enterprises at the end of the June quarter.

Shares of SJS Enterprises jumped 3.75 per cent to close at Rs 644 per piece on the NSE.

(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)