Latest News | Swiss-Asia Holding Pte Sells Grasim Industries Shares for Rs 101 Crore

New Delhi, Oct 26 (PTI) Financial services company Swiss-Asia Holding Pte on Thursday sold shares of cement producer Grasim Industries for Rs 101 crore through an open market transaction.

Following the sale, shares of Grasim Industries fell 1.28 per cent to settle at Rs 1,853.50 apiece on the National Stock Exchange (NSE).

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Singapore-based Swiss-Asia Holding Pte through its affiliate Griffin Growth Fund VCC offloaded shares of Grasim Industries.

According to the block deal data available with the NSE, Griffin Growth Fund VCC disposed of 5,48,322 shares of Grasim.

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The shares were sold at an average price of Rs 1,840 per piece, taking the transaction size to Rs 100.89 crore.

These shares were purchased by US-based Cresta Fund Ltd at the same price.

Grasim Industries Ltd through its subsidiaries -- UltraTech Cement and Aditya Birla Capital -- is the country's prominent cement producer and a leading diversified financial services player. Grasim is a flagship company of the Aditya Birla Group.

Swiss-Asia Holding Pte had on Wednesday offloaded its entire 1.03 per cent stake in Aditya Birla Fashion and Retail Ltd (ABFRL) for Rs 207 crore through an open market transaction.

In another block deal on the NSE, investment company Hypnos Fund Ltd offloaded 17 lakh shares of Jindal Stainless Ltd for Rs 78 crore through an open market transaction.

Hypnos Fund Ltd sold the shares at an average price of Rs 459 apiece, taking the the deal value to Rs 78.03 crore.

These shares were purchased by JSL Overseas Ltd, a promoter group entity of Jindal Stainless.

Shares of Jindal Stainless Ltd fell 1.95 per cent to close at Rs 446 apiece 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)