Financial Daily from THE HINDU group of publications
Thursday, Nov 21, 2002
Foreign Institutional Investors
Corporate - Announcements
Markets - Foreign Institutional Investors
Promoter sells shares of Godrej Consumer to FII
MUMBAI, Nov. 20
GODREJ & Boyce Manufacturing Co Ltd has sold 3.15 per cent stake in Godrej Consumer Products Ltd (GCPL) in the open market, the company said in a statement today.
The company, which is the promoter of GCPL, sold 18,23,703 shares but did not reveal the name of the purchaser or the price at which the stock was sold. With this, Godrej & Boyce's holding in GCPL is 52.93 per cent.
According to market information, the sale was made to a foreign fund.
In addition, two other block deals for 1.51 lakh and 4.24 lakh shares were also seen in the counter.
Total volumes on the BSE amounted to 24.16 lakh, of which 99.83 per cent shares were presented for delivery.
Similar block deals were witnessed on the BSE on October 25. Seven block deals for more than 3 lakh shares each were executed on that day. The company had then informed the stock exchanges that one of the promoters had sold 22 lakh shares amounting to 3.79 per cent of the paid-up capital.
There were, however, no block deals on the NSE on both occasions. Volumes on the NSE amounted to just 27,586 shares today.
Incidentally, GCPL is also conducting open market purchases as part of its buyback offer. It had passed a resolution to buy back shares for a maximum price of Rs 175 per share for a maximum outlay of Rs 4.6 crore.
Today, GCPL's shares ended at Rs109.95 as compared to the previous close of Rs 105.75 on the National Stock Exchange.
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