Deepak fertiliser sells 12.1% stake in MCFL

Deepak Fertilisers on Monday sold over 12 per cent stake in the Vijay Mallya-led UB Group's Mangalore Chemicals and Fertilisers (MCFL) for an estimated Rs 125.69 crore, through the open market route.

Pune-based Deepak Fertilisers has been competing with industrialist Saroj Poddar-led Zuari group for taking control of the MCFL since July 2013.

According to the bulk deal information with stock exchanges, Deepak Fertilisers sold a total of 14.3 million shares (representing 12.07 per cent stake) of MCFL.