Thai Union Group Sells Stake in Avanti Feeds for Rs 435 Crore

Thai Union Group has sold a 4.4% stake in Avanti Feeds for Rs 435 crore. The transaction involved 59.77 lakh shares sold at Rs 728 each, reducing Thai Union's total stake from 8.77% to 4.37%. IIFL Facilities Services Ltd acquired the shares, boosting Avanti's stock value to Rs 735.

In a significant financial transaction, Thai Union Group divested 4.4% of its stake in Avanti Feeds for a total of Rs 435 crore via an open market sale on Tuesday.

The Thai-based seafood product company, through Thai Union Asia Investment Holding, sold 59.77 lakh shares at an average price of Rs 728 each. This transaction reduced their holding to 4.37% from the previous 8.77%.

IIFL Facilities Services Ltd acquired the shares at the same price, contributing to a 1% increase in Avanti Feeds' stock price, which closed at Rs 735 on the National Stock Exchange.

(With inputs from agencies.)