Investors Anil Kumar Goel, Societe Generale, and Plutus Wealth Management LLP picked a 3 percent stake in Triveni Engineering and Industries via open market transactions on December 8.
Promoter Dhruv Manmohan Sawhney has offloaded a total of 1.7 crore shares, representing a 7 percent stake in Triveni Engineering and Industries, as per bulk deals data available on exchanges.
The 7 percent stake was sold at an average price of Rs 280.75 per share and the promoter received Rs 477.3 crore against those shares.
Anil Kumar Goel has acquired additional 18 lakh shares in the company at an average price of Rs 280 per share. Goel already held 65 lakh shares or a 2.69 percent stake in Triveni Engineering as of September 2022.
Societe Generale bought 14.73 lakh shares and Plutus Wealth Management LLP purchased 40 lakh shares at an average price of Rs 280 per share.
These three investors in total acquired 72.73 lakh shares or 3 percent of the total paid-up equity.
The stock reacted negatively due to significant stake sale by promoter, closing with 4.16 percent loss at Rs 281.95 on the BSE.
The total promoter shareholding in Triveni Engineering as of September 2022 was 68.26 percent.
