Makino Holdings, promoter of Westlife Development Ltd, on Wednesday divested its stake worth over Rs 199 crore in the firm through an open market transaction.
According to bulk deal data on the BSE, Makino Holdings sold 46,82,533 shares, representing 3 per cent of the total shares of the firm, at an average price of Rs 425.07.
This took the total deal value to Rs 199.04 crore.
Through separate transactions, Kuwait Investment Authority Fund and Sundaram Mutual Fund bought a total of 22,63,900 shares for a total amount of over Rs 96.2 crore, the bulk deal data showed.
According to the shareholding data for the December 2019 quarter, Makino Holdings held 7.63 per cent shares in the firm, while Sundaram Mutual Fund is a public shareholder and held 1.03 per cent stake in Westlife.
Shares of Westlife Development fell 2.37 per cent to Rs 469.1 apiece on Wednesday on the BSE.
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