360 ONE sells 12 pc stake in Northern Arc Capital for Rs 382 cr

New Delhi, Jun 20 (PTI) Asset management firm 360 ONE on Friday divested a 12.02 per cent stake in Northern Arc Capital for Rs 382 crore through open market transactions.

According to the bulk deal data on the NSE, Mumbai-based 360 ONE through its three affiliates sold a total of 1.94 crore shares or 12.02 per cent stake in Northern Arc Capital.

The shares were disposed in the price range of Rs 195.71-198.74 apiece, taking the aggregate deal value to Rs 382.14 crore.

After the stake sale, 360 ONE's holding in Northern Arc Capital declined to 4.38 per cent from 16.4 per cent.

Meanwhile, BNP Paribas and Abu Dhabi-based Cohesion Asset Management purchased 18.67 lakh shares or 1.16 pc stake in Northern Arc Capital in the price range of of Rs 202.46-208.83 per share.

This took the deal value to Rs 38.44 crore.

Details of the other buyers of Northern Arc Capital's shares could not be ascertained.

Shares of Northern Arc Capital fell 2.28 per cent to close at Rs 209 apiece on the NSE. PTI HG HVA