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Nalanda Capital sells 1.4 pc stake in Great Eastern Shipping for Rs 190 crore

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New Delhi, May 13 (PTI) Investment firm Nalanda Capital on Monday divested a 1.4 per cent stake in Great Eastern Shipping Co Ltd for Rs 190 crore through an open market transaction.

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Singapore-based Nalanda Capital through its arm Nalanda India Equity Fund Ltd sold shares of Great Eastern Shipping Co Ltd through a bulk deal on the BSE.

As per the data, Nalanda India Equity Fund offloaded 20 lakh shares, amounting to a 1.4 per cent stake in Mumbai-based Great Eastern Shipping Co Ltd.

The shares are disposed of at an average price of Rs 950.25, taking the transaction value to Rs 190.05 crore.

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After the stake sale, Nalanda Capital's shareholding in GE Shipping has declined to 5.97 per cent from 7.37 per cent.

Meanwhile, Ghisallo Master Fund LP acquired 19.58 lakh shares at an average price of Rs 950 per piece, as per the data on the BSE.

This took the deal value to Rs 186.03 crore.

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Shares of Great Eastern Shipping Co rose by 0.66 per cent to close at Rs 998.45 apiece on the BSE.

Mumbai-based Great Eastern Shipping Co Ltd is India's largest private sector shipping service provider.

In another bulk deal on the NSE, Axis Mutual Fund (MF) bought 26 lakh shares of real estate company Anant Raj for Rs 95 crore through an open market transaction.

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According to the bulk deal data available on the National Stock Exchange (NSE), Axis MF through its fund Axis MF A/C Axis Small Cap Fund purchased 26 lakh shares of Anant Raj Industries at an average price of Rs 368 apiece.

This took the deal value to Rs 95.68 crore.

On Monday, scrip of Anant Raj rose 1.02 per cent to settle at Rs 372.55 apiece on the NSE. PTI HG HG MR

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