Left Menu
Development News Edition

Lake District Holdings sells AAVAS Financiers shares worth Rs 666 cr

PTI | New Delhi | Updated: 07-02-2020 19:29 IST | Created: 07-02-2020 19:29 IST
Lake District Holdings sells AAVAS Financiers shares worth Rs 666 cr

Lake District Holdings Ltd, promoter of AAVAS Financiers Ltd, on Friday sold shares worth over Rs 666 crore in the firm though an open market transaction. The bulk deal data on the BSE showed that 36,60,700 shares, representing 4.67 per cent of the total shareholding of the firm, were offloaded by Lake District Holdings.

The shares were sold at an average price of Rs 1,819.47, taking the total deal value to Rs 666.05 crore. Lake District Holdings held 34.23 per cent stake in the firm, as per the shareholding data for December 2019 quarter.

The buyers -- Kotak Funds India Midcap Fund, American Funds Insurance series Global Small Capitalization Fund and Smallcap World Fund Inc.-- picked a total of over 28 lakh shares for a total amount of more than Rs 513 crore. Out of the buyers, Smallcap World Fund Inc is a public shareholder of AAVAS Financiers and held 2.29 per cent stake in the firm, shareholding data showed.

Shares of AAVAS Financiers on Friday ended 6.02 per cent lower at Rs 1,843.4 on the BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION / BLOG / INTERVIEW

Globalization post-coronavirus to get a hit, self-sufficiency paradigm to rule

The massive scale of coronavirus outbreak, accompanied by uncertainty and fear, could lead to new behaviors and beliefs in the 21st-century population that is empowered with the internet....

Ayurveda for COVID 19: Professionals owe the responsibility to protect it from quacks and fake news

Indian Ayurveda professionals are lagging behind their foreign counterparts in handling quacks and protecting credentials of the Ayurveda at the time of COVID 19 pandemic. The professionals of Ayurveda cannot abjure the responsibility to co...

Education post-coronavirus: Schools to rush for more digitalization

Digital education would undoubtedly boom in the post-coronavirus world, supported by educational institutions that have discovered its efficiency during the crisis, but it is still not expected to outshine traditional classroom learning....

Videos

Latest News

China stocks firm as fresh stimulus hopes boost risk appetite

China stocks on Wednesday started the second quarter of the year on a firm note, as investors expected more stimulus measures to counter the economic impact from the coronavirus pandemic. At the midday break, the Shanghai Composite index wa...

Virgil van Dijk picks Messi as his toughest opponent

Liverpool defender Virgil van Dijk has named Lionel Messi as his toughest opponent during a Twitter question and answer session. Van Dijk was pitted against Messi during last seasons Champions League semi-final, as Liverpool famously overca...

China stocks firm as fresh stimulus hopes lift risk appetite

China stocks on Wednesday started the second quarter of the year on a firm note, as investors expected more stimulus measures to counter the economic impact from the coronavirus pandemic. At the midday break, the Shanghai Composite index wa...

COVID-19: Total shutdown in Nagaland's Dimapur from Wednesday

At the end of the first week of 21-day nationwide lockdown, the district administration of Dimapur in Nagaland has ordered the total closure of all shops, commercial, private establishments, and imposed restrictions on movement of public ...

Give Feedback