Shares of Page Industries fell as much as 10.5 per cent to Rs 10,321 on the National Stock Exchange after the promoters of the company sold stake in the company.
Bengaluru-based Page Industries is the exclusive licensee of Jockey International Inc for manufacture and distribution of the Jockey brand innerwear and leisurewear in India, Sri Lanka, Bangladesh, Nepal and UAE.
The promoters of Page Industries sold 2.81 per cent stake in the company in separate transactions and their total shareholding has come down to 49 per cent, from 51.81 per cent in December 2015, the company informed the stock exchanges.
According to the data available on the BSE, the promoters of the company - Sunder Genomal, Nari Genomal and Ramesh Genomal - collectively sold 3,13,440 equity shares or 2.81 per cent stake in the company.
According to the data on the National Stock Exchange, Smallcap World Fund Inc bought 1,62,500 shares of Page Industries on March 18 at weighted average price Rs 11,599.98.
Shares of Page Industries ended 2.2 per cent lower at Rs 11,300.
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