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    Bajaj Resources sells 22% stake in Bajaj Consumer Care for 628 crore

    Synopsis

    Bajaj Resources held 59.9 per cent stake in Bajaj Consumer Care at the end of September quarter.

    Chart-3---GettyGetty Images
    On the BSE, shares of Bajaj Consumer Care dived 14.77 per cent to end at Rs 195.55.
    Bajaj Resources Ltd, a promoter of consumer goods firm Bajaj Consumer Care, on Tuesday offloaded around 22 per cent stake in the company for Rs 628 crore through an open market transaction.

    Bajaj Resources sold 3,22,65,100 shares representing 22 per cent equity stake of Bajaj Consumer Care at an average price of Rs 194.56, according to the exchange data.

    Bajaj Resources held 59.9 per cent stake in Bajaj Consumer Care at the end of September quarter.

    A host of fund houses, including Aditya Birla Sun Life Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund and Steinberg India Emerging Opportunities Fund, were among the buyers of shares.

    In March, promoter entities of Bajaj Consumer Care had sold 6.85 per cent stake in the FMCG firm for about Rs 320 crore through an open market transaction.

    The promoters included Bajaj Resources Ltd, KNB Enterprises LLP and SKB Roop Commercial LLP.

    On the BSE, shares of Bajaj Consumer Care dived 14.77 per cent to end at Rs 195.55.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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