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Pragati India Fund sells 15% stake in PTC; Sterlite Power offloads over 14% units in IndiGrid

 PTC Industries share price was locked in 20 percent upper circuit on August 14 at Rs 582.50

 

Sponsor Sterlite Power Grid Ventures has offloaded 14.65 percent units of KKR and Singapore's GIC-backed India Grid Trust via open market transactions on August 14.

Private power transmission company Sterlite Power Grid has sold 8,55,07,569 units (representing 14.65 percent of total outstanding units) at Rs 98 per unit, bulk deals data available on the NSE showed. As per shareholding pattern available on exchanges at the end of June, Sterlite Power held 15 percent (8,75,48,026 units) in the company.


India Grid is an infrastructure investment trust (InvIT) established to own inter-state power transmission assets in India. IndiGrid was established in October 2016 by sponsor Sterlite Power Grid Ventures.

Larsen & Toubro was the leading buyer in this deal, acquiring 2,55,09,897 units (representing 4.37 percent of total outstanding units) at Rs 98 per unit.

Danske Invest India Fund, Societe Generale and Morgan Stanley Asia Singapore acquired 30,75,408,  89,71,074 and  38,17,044 units in India Grid at Rs 99.02, Rs 98 each, respectively.

Among other deals, Vikas Vijaykumar Khemani, the Founder of Carnelian Asset Management, acquired 27,000 shares (representing 0.51 percent of its total paid-up equity) in casting and machine components manufacturer PTC Industries at Rs 533.46 per share on the BSE. Well-known investor Porinjuv Veliyath also bought 27,000 shares at Rs 469.52 per share.

Mona Russell Mehta bought 4.5 lakh shares in PTC Industries at Rs 453.01 per share and Pankaj Prasoon And (HUF) acquired 63,000 shares at Rs 453.60 per share.

However, Pragati India Fund was the seller in PTC Industries, selling 7,85,913 equity shares (representing 15 percent of total paid-up equity) at Rs 453.74 per share. As of June, Pragati India Fund held 20 percent stake in the company.

PTC Industries share price was locked in 20 percent upper circuit on August 14 at Rs 582.50.

Plutus Wealth Management has bought 14.85 lakh shares in HeidelbergCement India at Rs 191.72 per share on the NSE.

KKR India Financial Services has offloaded 70.5 lakh shares in CG Power and Industrial Solutions (or 1.12 percent of total paid up equity) at Rs 13.56 per share on the BSE.


KKR India had held 8.10 percent stake (5,07,36,588 equity shares) in CG Power as of June 30.

Adesh Ventures sold 7,87,863 shares in Man Industries at Rs 60.36 per share on the NSE

Trishashna Holdings & Investments Pvt bought 3,94,835 RE shares in Satin Creditcare at Rs 23.5 per share, whereas UTI Mutual Fund - Banking Sector Fund (UT163) sold 1,08,533 RE shares at Rs 26.06 per share on the NSE.

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