According to the bulk deals data available with NSE, the fund sold 44,31,926 shares or 0.7 per cent stake in the company for Rs 55.39 crore.
The shares were sold at an average price of Rs 125 per piece. The buyers of the stake sold could not be ascertained.
Earlier this week, the Avantha Group firm posted a consolidated net loss of Rs 107.03 crore for the quarter ended December 31.
The firm had posted a net profit of Rs 274.29 crore in the October-December quarter of the last fiscal.
With over 8,000 employees, the company has manufacturing facilities in several countries including Belgium, France, UK, Canada and the US.
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