RIL promoter entity sells 56 lakh shares for Rs 440 cr
Mumbai: Pavana Enterprises LLP, a promoter group firm of Reliance Industries, Wednesday offloaded 56 lakh shares of the energy giant for nearly Rs 440 crore to another promoter entity.
The shares were purchased by Nagothane Agrofarms, a subsidiary of Farm Enterprises through open market transactions.
According to information available with the stock exchanges, Pavana Enterprises sold 56 lakh shares of Reliance Industries (RIL).
The shares were sold on an average price of Rs 785.05 valuing the transaction to Rs 439.62 crore, the data showed.
Pavana Enterprises, last month, had sold 2.04 crore shares of RIL for an estimated Rs 1,689 crore to another promoter entity, Farm Enterprises.
As on March quarter, Pavana Enterprises held 6.16 crore shares or 1.91 percent stake in RIL, while Farm Enterprises owned 9.20 crore scrips, amounting to 2.85 percent stake in the company.
Shares of RIL today rose 0.65 percent to settle at Rs 791.30 apiece on the BSE.