ASN Investments Pares Another 1.53% Stake In GMR Power

The U.K.-based ASN Investments Ltd. pared an additional 1.53% stake in GMR Power and Urban Infra Ltd. through open market transactions on Wednesday, continuing its offloading spree.

The firm sold 92.63 lakh shares at Rs 52.34 apiece, according to bulk deal data on the NSE. The total amount aggregates to Rs 48.5 crore.

Setu Securities Pvt. bought 46 lakh shares (0.76%) at Rs 51.91 apiece.

ASN Investments has so far offloaded a total of 5.65% equity in GMR Power this month. The investment firm held a 7.27% shareholding in the GMR Group company as of September.

Earlier this month, ASN Investments exited GMR Airports Infrastructure Ltd. by offloading its entire 7.27% stake for Rs 2,555 crore.

Shares of GMR Power and Urban Infra closed 1.74% higher at Rs 53.30 apiece on Thursday, as compared with a near 1% advance in the BSE Sensex.