Sahyadri Agencies, a promoter of Jyothy Labs, on Friday divested 3.5 per cent stake in the homegrown FMCG firm for Rs 224 crore through open market transactions.
The shares have been picked up by ICICI Lombard General Insurance, Bajaj Allianz Life Insurance, Reliance Mutual Fund, UTI Mutual Fund, Mirae Asset Mutual Fund and Aurigin Master Fund.
According to block deal data available with the National Stock Exchange (NSE), Sahyadri Agencies sold a total of 1,29,17,000 shares, which is equivalent to 3.5 per cent stake of Jyothy Labs.
The shares were offloaded on an average price of Rs 173.4, valuing the transaction at Rs 224 crore, the data showed.
At the end of the September quarter, Sahyadri Agencies held 8.17 per cent stake in Jyothy Labs, maker of Margo soap and Henko and Mr White detergent.
Shares of Jyothy Labs closed 1 per cent lower at Rs 173.4 on the National Stock Exchange.
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