Mumbai: Media conglomerate DB Corp Monday said one of its promoters Jyoti Agarwal has sold 4.91 percent stake in the company by offloading 90 lakh shares for Rs 176.40 crore.
In a filing to the BSE, DB Corp said Agarwal sold her shares on May 10, 2012, post which her current holding in the firm has gone down to 5.93 per cent from 10.84 percent.
The company had appointed Morgan Stanley India Company as the broker for this deal.
DB Corp publishes eight newspapers with 65 editions, 191 sub-editions in four languages (Hindi, Gujarati, English and Marathi) across 13 states in India.
The company had posted a marginal growth in consolidated net profit for the quarter ended March 31, 2012, at Rs 45.4 crore against Rs 44.99 crore in the same period last year.
The firm's scrip closed at Rs 199.50 per share, up 2.31 percent from the previous close on the BSE.
First Published: Monday, May 14, 2012, 21:16