Jwalamukhi Investment Holdings, an investment arm of private equity firm Westbridge Capital, today bought additional 3.54 percent stake in tyre maker CeatBSE 1.74 % for Rs 185 crore.
The shares were bought from Kotak Mahindra (International) Ltd, which has exited the company through the open market transaction.
According to bulk deal data available with the BSE, Jwalamukhi Investment picked up 14,32,897 shares, amounting to 3.54 per cent stake, of Ceat.
The scrips were purchased on an average price of Rs 1,290.35, valuing the transaction at Rs 184.89 crore.
As of December quarter, Jwalamukhi Investment held 4.5 percent stake in Ceat, while Kotak MahindraBSE 0.39 % owned 3.54 percent holding in the tyre company.
The Ceat stock settled at Rs 1,288.45 on BSE, up 0.04 percent from the previous close. In the intra-day trade, the scrip had touched a high of Rs 1,301.75 and a low of Rs 1,260.50.
