Smallcap World Fund sells 1.67% shares in Greaves Cotton, but raises stake in Tube Investment

Foreign investor Smallcap World Fund Inc has sold 1.67 percent equity stake in engineering company Greaves Cotton via open market transactions on November 26.

Smallcap World Fund sold 21,02,098 equity shares in Greaves at Rs 75.27 per share on the NSE and 17,76,887 shares at Rs 74.45 per share on BSE, the bulk deals data available on the exchanges showed.

Smallcap World Fund Inc had held 1,29,38,337 equity shares (representing 5.60 percent of total paid-up equity) in Greaves as of September 2020.

But Smallcap World Fund Inc has acquired 23,65,561 equity shares in Tube Investments of India (representing 1.25 percent of total paid-up equity) at Rs 841 per share on the NSE.

Smallcap World Fund held 61,69,000 equity shares or 3.28 percent stake in the company as of September 2020.

However, HDFC Mutual Fund (HDFC Small Cap Fund) was the seller in Tube Investment deal, offloading 23,50,000 shares at same price.