Gujarat Fluorochemicals promoter entity sells 1.18 pc stake for Rs 460 cr

New Delhi, Sep 17 (PTI) Devansh Trademart LLP, one of the promoters of Gujarat Fluorochemicals, on Wednesday divested a 1.18 per cent stake in the company for Rs 460 crore through an open market transaction.

According to the bulk deal data available on the National Stock Exchange (NSE), Devansh Trademart LLP offloaded 13 lakh equity shares representing a 1.18 per cent stake in industrial refrigerant manufacturer Gujarat Fluorochemicals.

The transaction was valued around Rs 460.11 crore, and was executed at a price of Rs 3,539.30 apiece.

After the stake sale, Devansh Trademart's holding in Gujarat Fluorochemicals has come down to 3.66 per cent from 4.84 per cent. Also, the combined holding of promoters has declined to 61.4 per cent from 62.58 per cent.

Details of the buyers of Gujarat Fluorochemicals' shares could not be ascertained on the exchange.

Shares of Gujarat Fluorochemicals rose marginally to close at Rs 3,699 apiece on the NSE.

In a separate bulk deal on the BSE, SBI Mutual Fund purchased 10,73,424 lakh shares or 2.85 per cent stake in Pitti Engineering for nearly Rs 102 crore.

The shares were acquired at an average price of Rs 950.10 apiece.

After the latest transaction, SBI Mutual Fund's shareholding in Pitti Engineering has increased to 5.56 per cent from 2.71 per cent.

Meanwhile, Motilal Oswal Mutual Fund disposed of 10,74,235 shares at the same price.

Other buyers of Pitti Engineering's shares could not be identified on the bourse.

Pitti Engineering's shares fell 0.16 per cent to settle at Rs 956.70 apiece on the BSE. PTI HG HVA