Mumbai: Bajaj Auto on Monday said one of its promoter Rahul Bajaj has sold 5.6 lakh shares to his son Rajiv Bajaj in a deal worth Rs 86 crore in an open market transaction.
Rajiv Bajaj bought 5,60,000 shares of Bajaj Auto held by Rahul Bajaj for Rs 1,530 apiece, aggregating to Rs 85.68 crore through a block deal, according to data available on the National Stock Exchange on Monday.
At the end of June quarter, Rajiv Bajaj in his personal capacity held 6,100 shares in Bajaj Auto.
The 62-year, Rahul Bajaj held 3,904,904 shares in his name, represting a stake of 1.35 percent in the auto firm at the end of the June quarter.
Rahul Bajaj had stepped down as the managing director of the firm after the expiry of his term, passing the baton to his elder son Rajiv.
First Published: Monday, September 26, 2011, 20:46