L&T Finance on Monday divested 8.4 per cent stake in CG Power and Industrial Solutions through open market transactions on stock exchanges.
According to block deal data available on the exchanges, L&T Finance Ltd sold a total of 5.26 crore shares, or 8.4 per cent stake, in CG Power for over Rs 73 crore.
On BSE, L&T Finance offloaded 4,12,93,778 shares at an average price of Rs 13.97 per share, valuing the deal at about Rs 57.69 crore.
Besides, it sold 1,13,06,222 scrips of CG power at Rs 13.94 apiece on the NSE, taking the deal value to about Rs 15.76 crore.
The shares were picked up by Blue Daimond Properties Pvt Ltd and Singularity Holdings Ltd, among others.
Earlier on Friday, the NBFC had offloaded 1 crore shares in the company through open market transaction.
L&T Finance, a public shareholder of CG Power, held 6.26 crore shares, or 10 per cent stake, in the company, as per the shareholding pattern for June 2020 quarter.
Shares of CG Power on Monday closed 4.96 per cent higher at Rs 13.97 on the BSE, and at Rs 13.95, up 4.89 per cent from the previous close, on the NSE.
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