Investment firm Verlinvest Asia Pte divested its entire stake in Sula Vineyards Ltd. for Rs 406.18 crore via open market transactions on Monday, while another foreign investor pared its shareholding in the homegrown winemaker.
Verlinvest, which invests in digital and e-commerce, food and beverage, and health and care sectors, offloaded 70.42 lakh shares, or 8.34% of the stake, in the winemaker at an average price of Rs 576.78 apiece, according to block data available with the National Stock Exchange.
New York-based private investment fund Mousserena LP sold 29 lakh shares in the company, amounting to 3.43% equity, for Rs 166.88 crore. The fund held a 3.66% stake in Sula Vineyards as of December 2023.
Morgan Stanley Asia, however, bought 8.65 lakh shares, or 1% equity, of Sula Vineyards on Monday.
In August last year, Verlinvest offloaded 12.6% of its shareholding in the Mumbai-based distillery for Rs 513.17 crore.
Shares of Sula Vineyards fell as much as 7.6% during the day to Rs 570.6 apiece on the NSE. It closed 8.02% lower at Rs 568 apiece, compared to a 0.37% advance in the benchmark Nifty 50.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
