New Delhi, Jun 27 (PTI) Styrenix Performance Materials promoter Shiva Performance Materials on Thursday divested a 16.5 per cent stake in the speciality chemicals maker for Rs 540 crore through an open market transaction.

According to the bulk deal data available with the BSE, Shiva Performance Materials sold 29 lakh shares, amounting to a 16.49 per cent stake in Styrenix Performance Materials.

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The shares were disposed of at an average price of Rs 1,862.20 apiece, taking the deal size to Rs 540.04 crore.

After the share sale, Shiva Performance Materials' shareholding in Styrenix Performance Materials declined to 46.24 per cent from 62.73 per cent.

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Motilal Oswal Mutual Fund (MF), Bandhan MF, Nippon India MF, Enam Investment & Services, Ikigai Emerging Equity Fund, SageOne Investment Managers, and Bengal Finance & Investment were among the buyers of Styrenix Performance Materials shares.

Shares of Styrenix Performance Materials fell 3.47 per cent to close at Rs 1,960.80 apiece on the BSE.

In a bulk deal data on the BSE, Meenakshi Gupta and Dhruv Gupta, promoters of SG Mart, divested a 5.4 per cent stake in the company for Rs 268 crore through open market transactions.

As per the data available, Meenakshi and Dhruv Gupta sold a total of 60.75 lakh shares, amounting to a 5.4 per stake in SG Mart.

The shares were offloaded in the price range of Rs 440-442.28 apiece, taking the combined transaction value to Rs 268.14 crore.

After the stake sale, the shareholding of Gupta in SG Mart has declined to 47.25 per cent from 52.69 per cent.

Further, SG Logistic Management and ace investor Ashish Rameshchandra Kacholia purchased a total of 34.10 lakh shares of SG Mart.

Details of the other buyers of SG Mart's shares could not be ascertained.

On Thursday, the scrip of SG Mart slipped 0.44 per cent to close at Rs 441.05 apiece on the BSE.

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