Two Astral Promoters Pare Stake For Rs 884.4 Crore

Two promoters of Astral Ltd. together sold 1.73% of their stake in the company for Rs 884.4 crore through an open market transaction on Wednesday.

Saumya Polymers LLP sold 36.2 lakh shares (1.34%), while Kairav Chemicals Ltd. offloaded 10.6 lakh shares (0.39%) at Rs 1,889.8 apiece on the stock exchange, according to the block deal data.

Saumya Polymers and Kairav Chemicals held 9.83% and 6.88% stakes in Astral, respectively, as of September.

Nippon India Mutual Fund bought 12 lakh shares (0.44%), while the Government of Singapore mopped up 8.83 lakh shares (0.32%) and Morgan Stanley Asia Singapore purchased 2.2 lakh shares (0.08%).

Abu Dhabi Investment, Tara Emerging Liquid Funds, and Reliance Life Insurance are some of the other buyers of the shares.

Shares of Astral closed 2.35% lower at Rs 1,864.50 apiece, as compared with a 1.30% fall in the benchmark BSE Sensex.