DSP BlackRock MF sells 1.7% stake in Indian Terrain Fashions

DSP BlackRock Trustee Co has trimmed its stake in apparel brand Indian Terrain Fashions by 1.70 per cent after selling 6.46 lakh shares in the open market.
As per a BSE filing, DSP BlackRock Trustee Co, on behalf of various schemes of DSP BlackRock Mutual Fund, decreased its shareholding in the company on March 1.
Before the transaction, the schemes of DSP BlackRock Mutual Fund held 18.66 lakh shares amounting to 4.92 per cent stake which has been brought down to 3.22 per cent after the open market sale, it added.
The transaction was based on the weighted average price of Rs 202 per share on BSE. The deal is estimated to be worth Rs 13.06 crore.

Indian Terrain Fashions is looking to be a Rs 1,000 crore firm by 2020-21 as the company expands its sales network and reach, particularly in north and east India.
The company, which reported a revenue of Rs 400 crore in 2016-17, retails its products through over 140 exclusive stores and 249 departmental stores across the country. It also sells its products through over 1,200 multi-brand outlets.
Stock of Indian Terrain Fashions was trading at Rs 195.80, down 3.07 per cent on BSE.