Promoter of EID Parry pares 2.27 pc stake for Rs 190 cr

Promoter entity of integrated sugar producer EID Parry India on Wednesday divested a 2.27 per cent stake in the company for Rs 190 crore through an open market transaction.EID Parry is a part of the Murugappa Group.

Promoter entity of integrated sugar producer EID Parry (India) on Wednesday divested a 2.27 per cent stake in the company for Rs 190 crore through an open market transaction.

EID Parry is a part of the Murugappa Group. Ambadi Enterprises Ltd offloaded 40.30 lakh shares, amounting to 2.27 per cent in EID Parry India Ltd, as per the bulk deal data available with the NSE.

The shares were sold at an average price of Rs 472.91 apiece, taking the aggregate transaction size to Rs 190.58 crore.

After the transaction, Ambadi Enterprises sold its entire 2.27 per cent stake in the company. The combined shareholding of promoter and promoter group in EID Parry India has declined to 42.24 per cent from 44.51 per cent.

Details of the buyers of the shares could not be ascertained.

Shares of EID Parry (India) Ltd rose 0.75 per cent to settle at Rs 495.95 apiece on the NSE.