Capital Group Sells Stake in SIS, Abu Dhabi Investment Authority Buys In

Capital Group, a US-based financial services company, sold a 4.3% stake in SIS for Rs 258.39 crore, while Abu Dhabi Investment Authority purchased a 3.6% stake. Meanwhile, Quant Mutual Fund reduced its stake in Graphite India by 1.5%. Shares of SIS and Graphite India showed mixed reactions in the market.

On Wednesday, US-based financial services company Capital Group divested a 4.3% stake in cash logistics solutions provider SIS, securing over Rs 258 crore through open market transactions. The shares were sold at Rs 415 each, according to bulk deal data available on the BSE.

Capital Group executed the sale through its affiliates, Smallcap World Fund and American Funds Insurance Series Global Small Capitalization Fund. Post-transaction, Abu Dhabi Investment Authority and 360 One Mutual Fund collectively purchased 51.79 lakh shares or 3.6% stake in SIS at Rs 415 per share, totaling Rs 214.95 crore.

In a separate move, Quant Mutual Fund pared its stake in Graphite India by 1.5%, disposing of shares worth Rs 151 crore. The shares of Graphite India were sold within a price range of Rs 520-520.03 per share. Following the transactions, the market reacted with mixed responses: SIS shares settled 3.41% lower at Rs 415.20 apiece on the BSE, while Graphite India's shares closed 2.18% higher at Rs 532.25 per piece.

(With inputs from agencies.)