Mumbai: Pavana Enterprises LLP, a promoter group firm of Reliance Industries, today offloaded a little over 2 crore shares of the energy giant for an estimated Rs 1,689 crore to another promoter entity.
According to information available with the stock exchanges, Pavana Enterprises sold 2.04 crore shares of Reliance Industries (RIL) to Farm Enterprises through open market transactions.
Shares were sold on an average price of Rs 828 valuing the transaction to Rs 1,689.12 crore.
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 surged 1.80 percent to settle at Rs 843.15 apiece on the BSE.