Bajaj group companies buy shares worth ₹353 cr in Mukand Ltd
PremiumThe transaction follows an approval by the Competition Commission of India (CCI) for acquisition of certain equity shareholding of Mukand Ltd by Bajaj Group entities
New Delhi: Four Bajaj group companies on Monday bought shares worth over ₹353 crore in Mukand Ltd, through open market transactions.
Bajaj Sevashram Pvt Ltd purchased shares for ₹94.42 crore, Bachhraj and Company Pvt Ltd ₹159.27 crore, Bachhraj Factories Pvt Ltd ₹69.04 crore, and Sanraj Nayan Investments Pvt Ltd ₹30.87 crore, block deal data on the NSE showed.
The shares were bought at an average price of ₹153.
The four entities are promoters of Mukand, as per shareholding data for June 2021 quarter.
In separate transactions, certain promoters of the firm had offloaded the scrips at ₹153 apiece.
The transaction follows an approval by the Competition Commission of India (CCI) for acquisition of certain equity shareholding of Mukand Ltd by Bajaj Group entities.
"Commission approves acquisition of up to 16.57 per cent of equity shareholding of Mukand Limited by Bajaj Group entities in addition to existing shareholding of around 57.70 per cent," it had said in a tweet.
On Monday, Mukand's shares closed at ₹149.85 apiece on the NSE, down 1.09 per cent.
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This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
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