New Delhi: SBI Mutual Fund has cut its stake by 3 per cent in Vijay Mallya-led McDowell Holdings to 5.77 per cent.
SBI Mutual Fund, which had an 8.77 per cent in the company earlier, brought down its shareholding in the company to 5.77 per cent, McDowell Holdings said in a filing to the BSE.
SBI MF sold 4.22 lakh shares in the company on July 8 and based on the closing stock price of Rs 33.75, the transaction is estimated to have been valued at Rs 1.41 crore.
McDowell Holdings is a UB Group firm.
Shares in McDowell Holdings, on Monday, ended almost 1 per cent lower at Rs 32 apiece on the BSE.
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