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Sistema Shyam continues to sell RCom shares; lowers stake to 3.44%

Press Trust of India  |  New Delhi 

(SSTL) today offloaded over 2.76 crore shares of debt-ridden Reliance Communications, lowering its holding to 3.44 per cent.

The company had sold 0.55 per cent stake in yesterday, thereby reducing its holding to 4.43 per cent.

Last month, had shed 2.1 per cent of its equity holding in the company to 4.98 per cent in

According to the bulk deal data available with (NSE) today, sold a total of 2,76,50,000 shares, amounting to 0.99 per cent stake, of the the

Shares were offloaded at Rs 10.57 apiece, valuing the transaction at Rs 29.22 crore, the data showed.

merged with RCom in October 2017. The company had 10 per cent stake at the time of merger.

In March, some of the minority stakeholders in SSTL swapped their shares with that of RCom which brought down SSTL holding in the company to 7.09 per cent.

RCom shares today closed 15.73 per cent lower at Rs 10.45 apiece on NSE. Yesterday, the stock had slumped by 7 per cent.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 16 2018. 19:40 IST