HDFC Mutual Fund on Monday sold a 2 per cent stake in VST Industries for Rs 122 crore through open market transactions.
According to the bulk deal data available with the BSE, HDFC Mutual Fund sold a total of 3,30,811 shares, amounting to a 2.14 per cent stake in VST Industries.
The shares were disposed of within the price range of Rs 3,690-3,690.38 apiece, taking the deal value to Rs 122.07 crore. After the latest transaction, HDFC Mutual Fund's shareholding has declined to 3.7 per cent from 5.84 per cent (as of December 2023).
Meanwhile, Radhakishan Shivkishan Damani, promoter of Avenue Supermarts, bought 2.33 lakh shares or 1.5 per cent stake in VST Industries for Rs 86.24 crore. The shares were acquired at an average price of Rs 3,689.96 apiece, taking the deal value to Rs 86.25 crore.
After the stakebuy, Radhakishan Damani becomes the largest shareholder of VST Industries. As of December 2023, entities owned by Damani, including Bright Star Investments Pvt Ltd and Derive Trading and Resorts, hold a combined shareholding of 30.71 per cent.
In January this year, Damani had acquired 2.22 lakh shares or 1.44 per cent stake in VST Industries.
Shares of VST Industries fell 0.34 per cent to close at Rs 3,689.90 apiece on the BSE.
