ITC sells 1.46% holding in VST Industries

The buyer was SBI Mutual Fund, who purchased 2.25 lakh shares for Rs 1,749 a piece

Cigarette major ITC has sold 1.46 per cent of its holding in VST Industries, the maker of brands such as Charms and Charminar, in a bulk deal today.

A total of 2.25 lakh shares changed hands, data sourced from the National Stock Exchange shows, for Rs 1749.54 a piece putting the total deal size at Rs 40 crore. Amongst the buyers were SBI Mutual Fund, which purchased 1.52 lakh shares for Rs 1,740 a piece. The identity of the other buyers could not be ascertained.

As on June 30, 2012, ITC had a 1.12 per cent stake in VST. But stock market experts say that the company took up its holding in VST in the last three months. It is unclear what is the residual stake that ITC now holds in VST.