Voltamp Transformers promoter sells 7.8 pc stake for nearly Rs 600 cr

New Delhi, Sep 9 (PTI) Voltamp Transformers promoter on Tuesday divested a 7.8 per cent stake in a heavy electrical equipment manufacturer for nearly Rs 600 crore through an open market transaction.

According to the bulk deal data on the NSE, Kunjal L Patel offloaded a little over 7.88 lakh shares, representing a 7.8 per cent stake in Vadodara-based Voltamp Transformers.

The shares were disposed of at an average price of Rs 7,605.91 apiece, taking the transaction value to Rs 599.87 crore.

After the latest transaction, Patel's holding in Voltamp Transformers has come down to 30.01 per cent from 37.80 per cent.

Meanwhile, the Prudential Assurance Company, Bajaj Allianz Life Insurance, Aditya Birla Life Insurance and Citigroup Global Markets Mauritius bought more than 4.77 lakh equity shares or 4.72 per cent stake in Voltamp Transformers.

Prudential Assurance Company Singapore is an indirect wholly-owned subsidiary of UK-based Prudential plc.

The combined transaction value was around Rs 363.34 crore, and was executed in a price range of Rs 7,604.62-7,605 per piece, as per the data on the National Stock Exchange (NSE).

Details of the other buyers of Voltamp Transformers' shares could not be ascertained on the exchange.

Shares of Voltamp Transformers declined 3.47 per cent to close at Rs 7,508 apiece on the NSE. PTI HG HG BAL BAL