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Bata parent sells stake

On the BSE, the scrip settled at Rs 1,850.30 — a drop of 1.46 per cent, or Rs 27.50, over the previous close
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Our Special Correspondent   |   Mumbai   |   Published 02.06.22, 03:00 AM

The parent of footwear major Bata India sold 36 lakh shares, or 2.8 per cent of its equity, through a block deal on the BSE. Data from the bourse showed that Bata (BN) BV sold 36 lakh shares at Rs 1,860 apiece, yielding around Rs 670 crore.

The transaction led to shares of Bata India ending in the negative territory on the stock exchanges. On the BSE, the scrip settled at Rs 1,850.30 — a drop of 1.46 per cent, or Rs 27.50, over the previous close.

Similarly on the NSE, it ended at Rs 1,846.35, a drop of Rs 30.95, or 1.65 per cent, over the last close. The shares were picked up by a clutch of domestic mutual funds, foreign investors and an insurance company.

The entities that purchased the stake include mutual fund houses under the Tatas, Mirae, HDFC, Axis, Aditya Birla Sunlife and Kotak.

HDFC Standard Life Insurance Co Ltd, Ghisallo Master Fund LP, Integrated Core Strategies (ASIA) Pte Ltd, Segantii India Mauritius, Societe Generale and Copthall Mauritius Investment also bought shares as part of this block deal, data available with the BSE showed.



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