Home / Markets / News / Essel Propack sinks 6% as nearly 24% equity changes hands via block deal

Essel Propack sinks 6% as nearly 24% equity changes hands via block deal

According to media reports, Epsilon Bidco Pte. Ltd, a Blackstone entity which owns 75 per cent of Essel Propack, was looking to sell up to 23 per cent stake, to garner as much as $251 million

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Last year, Blackstone had acquired 51 per cent stake in Essel propack for $460 million (Rs 3,211 crore)

4 min read Last Updated : Sep 18 2020 | 10:29 AM IST

Shares of Essel Propack tanked up to 6.2 per cent to Rs 256 on the BSE on Friday after 83.2 million shares changed hands on the NSE and BSE. At 9:15 am, 74.55 million shares, representing 23.63 per cent stake in the company, changed hands on the BSE at Rs 260 per share, data show.

According to media reports, Epsilon Bidco Pte. Ltd, a Blackstone entity which owns 75 per cent of Essel Propack, was looking to sell up to 23 per cent stake, representing around 72.5 million shares of the company, to garner as much as $251 million. The

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