Latest News | Three PG Electroplast Promoters Sell 5.3 Pc Stake for Rs 1,132 Crore

New Delhi, May 27 (PTI) Three promoters of PG Electroplast on Tuesday sold a total of 5.3 per cent stake in the company for Rs 1,132 crore through open market transactions.

According to the bulk deal data available on the BSE, PG Electroplast's promoters Vikas Gupta, Anurag Gupta and Vishal Gupta sold 1.50 crore equity shares, cumulatively a 5.3 per cent stake in the company.

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The shares were disposed of in the price range of Rs 754.83 to Rs 755.73 per share on the BSE, taking the aggregate deal value to Rs 1,132.26 crore.

After the latest transaction, the promoters and promoter group entities' holding in PG Electroplast Ltd (PGEL) declined to 44.07 per cent from 49.37 per cent.

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Meanwhile, Singapore government picked up 38.18 lakh shares or 1.35 per cent holding in PGEL while Motilal Oswal Asset Management Company purchased an additional 15.89 lakh shares, amounting to a 0.56 per cent stake in the company, as per the data.

The shares of PGEL were acquired by both entities at an average price of Rs 754.80 apiece, taking the combined transaction value to Rs 408.22 crore.

Details of other buyers of PGEL shares could not be ascertained on the exchange.

Shares of PG Electroplast on Tuesday fell 0.14 per cent to close at Rs 765 apiece on the BSE.

In a separate block deal on the BSE, financial services company BNP Paribas on Tuesday purchased 2.96 lakh shares of Suraksha Diagnostic for Rs 10 crore through an open market transaction.

BNP Paribas through its arm -- BNP Paribas Financial Markets -- acquired these shares at an average price of Rs 338 per piece.

However, Integrated Core Strategies (Asia) Pte sold the same number of shares at the same time on the exchange.

On Tuesday, shares of Suraksha Diagnostic slipped 2.30 per cent to settle at Rs 327.25 apiece on the BSE.

(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)