- Westbridge sold off 4.96% stake reducing it’s stake to 29.5% in the Company
- JIH II LLC sold it’s entire 2.03% stake
- Shares were sold at around Rs 294/ share
- Total promoters’ stake now stand reduced to 54.1% from 61.1% earlier
Buyers included SBI MF and Luxembourg-based Eastbridge Group amongst others.
Whether it’s a cause of concern?
Not really as the stake was sold by the institutional promoter investors who may have varied compulsions to liquidate.
On the contrary, this may remove the overhang of any significant further stake sale in the near term.