The U.K.-based ASN Investments Ltd. continued its offloading spree in GMR Power and Urban Infra Ltd. through open market transactions on Friday for the third consecutive day.
The firm sold 35 lakh shares (representing 0.57% equity) at Rs 52.25 apiece, according to bulk deal data on the NSE. The total amount aggregates to Rs 18.28 crore.
On Wednesday, ASN sold a 2.31% stake in GMR Power for Rs 74.2 crore, followed by a 1.24% stake the following day. The investment firm held 7.27% of the shares in the GMR Group company as of September.
Last week, ASN Investments exited GMR Airports Infrastructure Ltd. by offloading its entire 7.27% stake for Rs 2,555 crore. The shares were sold at Rs 58.21 apiece.
The Rajiv Jain-backed GQG Partners picked up a 4.7% stake in the airport operator for Rs 1,671 crore.
Shares of GMR Power and Urban Infra closed 3.77% lower at Rs 51 apiece on Friday, as compared with a 1.29% advance in the Nifty 50.
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