Fri. Mar 29th, 2024
Bata India

B V, Bata India’s founder, sold a 2.56 percent share in the footwear firm for almost Rs 613 crore in open market dealings on Wednesday.

A group of domestic mutual funds (MFs), overseas investors, and an insurance company picked the shares.

Tata MF, Mirae Asset MF, HDFC MF, Axis MF, Aditya Birla Sunlife MF, Kotak MF, HDFC Standard Life Insurance Co Ltd, Ghisallo Master Fund LP, Integrated Core Strategies (ASIA) Pte Ltd, Segantii India Mauritius, Societe Generale and Copthall Mauritius Investment Ltd are the entities that bought the shares, showed the block deal data available with the BSE.

As per the data, the promoter offloaded 32.95 lakh shares i.e. 2.56 percent stake in the company.

The shares sold at an average price of Rs 1,860 apiece, amounting to Rs 612.87 crore.

As of March 31, 2022, BATA (BN) B V owned a 52.96 percent stake in the company, whereas domestic mutual funds had a 19.46 percent stake. The insurance companies held 7.92 percent and foreign portfolio investors had 6.66 percent holdings.

 

By Harshita Sharma

I bring to you updates from business, policy and economy spectrum.

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