Relaxo Footwears promoters sold over 24 lakh shares for Rs 181 cr through market sale

Promoters of Relaxo Footwears have sold over 24 lakh shares or close to 2 per cent stake in the company for an estimated sum of over Rs 181 crore. The company's promoters -- Ramesh Kumar Dua, Lalita Dua, Gaurav Dua, Rahul Dua and Sakshi Dua -- sold 24.40 lakh shares constituting 1.96 per cent stake in the company on March 5 and March 6 through market sale, according to a regulatory filing.

After the transaction, promoters' holding in the company has come down to 35.50 per cent. Relaxo promoters held 37.47 per cent stake earlier. Based on the average weighted price of Relaxo Footwears shares of March 5 at Rs 745.26 apiece, the transaction value is estimated at Rs 181.84 crore. Shares of Relaxo Footwears on Wednesday settled 0.87 per cent lower at Rs 744.20 apiece on the BSE.