Mavi Investment Fund, a shareholder of Adani Power Ltd, on Tuesday offloaded 46 lakh shares of the company for nearly Rs 22 crore in open market transaction.
Mavi Investment Fund, held 2.82 crore shares representing 1.18 per cent stake in Adani Power at the end of December quarter. It sold 46 lakh shares of the company at an average price of Rs 47.25, valuing the deal to Rs 21.73 crore.
Meanwhile, the block deal data at stock exchanges showed that shares were purchased by Vinodbhai Shantilal Adani NRE.
Earlier this month, Mavi Investment Fund had sold 1.25 crore shares of the power firm for over Rs 57 crore to Vinodbhai Shantilal Adani NRE through open market deals.
In a separate transaction, Amtek Auto Ltd, promter group firm of Ahmednagar Forgings, raised its stake in the latter by picking up an additional 18 lakh shares for Rs 21.42 crore.
Shares were purchased from Asia Invevestment Corporation Mauritius Ltd.
As of December quarter, Amtek Auto Ltd held 2.01 crore shares or 54.96 per cent stake in Ahmednagar Forgings, while Asia Investment Corporation Mauritius owned 22.01 lakh stocks or 5.99 per cent holding in the firm.
At the Bombay Stock Exchange (BSE), shares of Adani Power slipped 1.08 per cent to settle at Rs 45.75 apiece, while that of Ahmednagar Forgings rose 0.79 per cent to close at Rs 115.50.
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