Reliance Industries Sells Major Stake in Asian Paints
Big Share Sale by Reliance Group
What Happened?
MUMBAI: Siddhant Commercials, a part of Reliance Industries, sold a large number of Asian Paints shares on Monday. They sold 85 lakh shares. This sale was worth nearly Rs 1,876 crore. The sale took place through a block deal on the National Stock Exchange (NSE).
Who Purchased the Shares?
ICICI Prudential Mutual Fund bought all the shares. These shares make up 0.9% of Asian Paints’ equity. Each share was sold at Rs 2,207. You can check these details on the NSE website.
Another Significant Deal
In another major deal, Samayat Services, a promoter of Vishal Mega Mart, is selling a 10% stake in the retailer. This sale is expected to happen through block deals on Tuesday. The deal is valued at a little over Rs 5,000 crore. The price per share is set at Rs 110. This price is a 12% discount from its Monday close.
Important Points to Note
- Siddhant Commercials sold 85 lakh shares of Asian Paints.
- The total sale value was nearly Rs 1,876 crore.
- ICICI Prudential Mutual Fund purchased all the shares.
- These shares represent 0.9% of Asian Paints’ equity.
- Samayat Services is selling a 10% stake in Vishal Mega Mart.
- The Vishal Mega Mart deal is valued at over Rs 5,000 crore.
