L&T Finance Ltd on Monday divested its remaining 8.4% stake in CG Power & Industrial Solutions Ltd for ₹73 crore, through open market transactions.
The bulk deal data available with the stock exchanges, L&T Finance Ltd sold 5.26 crore shares, or 8.4% stake. The shares were disposed of at an average price of ₹13.96, valuing the transactions at ₹73.45 crore.
The shares were bought by Blue Diamond Properties Pvt Ltd and Singularity Holdings Ltd, the bulk deal data from the stock exchanges showed.
On Friday, L&T Finance had sold 10 million shares of CG Power at an average price of ₹13.53 apiece, amounting to a total of ₹13.53 crore. Also on Friday, private equity firm KKR had sold part of its holding in CG Power for ₹49.60 crore.
As of 30 June, L&T Finance held a 10% stake in the company.
Shares of CG Power gained 4.96% to close at ₹13.97 on Monday on BSE, while the benchmark index, Sensex gained 0.46% to close at 38,050.78.
