Promoters of Bajaj Auto sold more than 10 lakh shares to another promoter body Bajaj Holdings & Investment in a bulk open market transaction priced around Rs 180.45 crore, a step to strengthen their stake.
According to the block deal data on hand with the Bombay Stock Exchange, 5 promoters of Bajaj Auto sold 10,47,500 shares at a price from Rs 1,715 to Rs 1,730 for a share.
Bajaj Holdings & Investment purchased these shares in a bulk deal in the same price range. The value of the deal is worth Rs 180.45 crore.
Bajaj Holdings & Investment is promoter group body of Bajaj Auto–the country’s 2nd biggest two-wheeler maker.
The promoters, selling their shares in Bajaj Auto are Shekhar Bajaj, Geetika Bajaj, Ruparani Bajaj, Anant Bajaj and Anant Trust.
Promoters’ stake in Bajaj Auto at the conclusion of December quarter was 49.62 %, according to BSE data. Bajaj Auto closed at Rs 1,748.40, an increase of 1.35% on BSE today.
In another bulk deals on BSE, Rahul Bajaj, promoter of Group firm Bajaj Electricals sold his 35,35,000 shares to Shekhar Bajaj, another promoter via open market transaction.
Rahul Bajaj sold 18,60,000 shares at a cost of Rs 182.65 per share. He sold another 16,75,000 equities at a cost of Rs 185 per share. Shekhar Bajaj and Anant Bajaj purchased these shares in the identical price range.
Rahul Bajaj also sold his 3,25,000 shares in Hercules Hoists at a cost of Rs 221 per share. These shares were purchased by Baja Auto Holdings, according to the BSE data.