Public shareholders of Northern Arc Capital Ltd. offloaded a 2.16% stake in the company for up to Rs 60 crore via an open market transaction on Wednesday.
360 One Special Opportunities Fund - Series 2 sold 5.9 lakh shares, which represents a 0.36% stake, 360 One Special Opportunities Fund - Series 3 offloaded 1.28% stake or 20.73 lakh shares and Dvara Trust offered for sale 8.35 lakh shares, which make up a 0.51% stake, for 173.9 apiece, according to data on the NSE.
Veteran investor Ashish Dhawan bought the combined 35 lakh shares or 2.16% stake for Rs 60.9 crore.
In the third-quarter, the company's net profit fell 10.8% to Rs 73.2 crore, while revenue rose 17% to Rs 576 crore.
Shares of Northern Arc closed 2.6% lower at Rs 169.38 apiece on the National Stock Exchange, compared to a 0.61% decline in the benchmark Nifty. The share price has fallen 47.63% in the last 12 months and 21.96% on a year-to-date basis.
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