New Delhi: Five Metro Brands Ltd promoters sold a 2.19 pc stake in the company for Rs 749 crore in an open market deal, with Kotak Mahindra MF and Citigroup Global Markets Mauritius also acquiring stakes in the firm. As per block deal information from the National Stock Exchange (NSE), Alisha Rafique Malik, Farah Malik Bhanji, Sabina Malik Hadi, Zarah Rafique Malik, and Zia Malik Lalji collectively sold 59.50 lakh shares, representing a total of 2.19 pc stake in Metro Brands.
The total transaction value reached Rs 749.70 crore, with the shares being sold at Rs 1,260 each on average. Following the sale of stakes, the ownership of the promoter and their affiliated entities has decreased to 71.96 percent from 74.15 percent.
Kotak Mahindra Mutual Fund (MF), Invesco MF, Baroda BNP Paribas MF, and Citigroup Global Markets Mauritius all bought these shares at the identical price. Metro Brands' stock price dropped by 2.48 percent and closed at Rs 1,238.50 each on the NSE
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