Nalanda Capital Sells 1.2% Stake in Thermax for Rs 765 Crore

Singapore-based Nalanda Capital divested a 1.2 per cent stake in Thermax for Rs 765 crore. Nalanda India Equity Fund Ltd offloaded 15 lakh shares on BSE, decreasing its stake in Thermax from 6.86% to 5.6%. Meanwhile, SBI Mutual Fund purchased a 1.15 per cent stake for Rs 700.92 crore.

In a significant financial move, Singapore-based Nalanda Capital has divested a 1.2 per cent stake in energy and environment solutions provider Thermax, raising Rs 765 crore through an open market transaction.

Nalanda India Equity Fund Ltd, an affiliate of the investment firm, offloaded 15 lakh shares on the Bombay Stock Exchange (BSE), reducing its holding in Thermax from 6.86 per cent to 5.6 per cent.

Conversely, SBI Mutual Fund boosted its stake in Thermax by purchasing 13.74 lakh shares, equivalent to a 1.15 per cent stake, for Rs 700.92 crore. The stock of Thermax took a minor dip, closing 0.65 per cent lower at Rs 5,227.05 per share on the BSE.

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