EID Parry Ltd. has sold 58.50 lakh equity shares of Coromandel International Ltd. for a total sum of ₹368 crore to bring down its debt.
The firm sold these shares in an open market transaction at ₹629.19 a share, the company said in a filing. Post the sale, EID Parry holds 17.13 lakh shares of ₹1 each, representing 58.48% of the paid-up capital of Coromandel. The proceeds of sale will be used to bring down the debt of the company, EID Parry said.
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