Hot Stock alert! Inox Leisure jumps 9% after INOX Benefit Trust offloads 4.23% stake for Rs101cr

The equity shares sold represent 4.23% stake aggregating to Rs101.36, as per Inox Leisure filing.

Aug 12, 2020 02:08 IST India Infoline News Service

INOX Leisure
Inox Leisure, one of the largest multiplex chains, on Wednesday skyrocketed by whopping 9.44% on Sensex with an intraday high of Rs257.85 per piece. Investors cheered Inox Leisure after  INOX Benefit Trust has sold 43,50,092 equity shares held by it in the company.

In its regulatory filing, Inox Leisure on Tuesday said, "we would like to inform you that INOX Benefit Trust has sold 43,50,092 equity shares held by it in the Company. The beneficiary of the entire proceeds of the aforesaid sale is INOX Leisure Limited."

The equity shares sold represent 4.23% stake aggregating to Rs101.36, as per Inox Leisure filing.

Further, the company intimated saying, "while INOX Benefit Trust is not a Designated Person under Regulation 7(2) of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, since the trustees of INOX Benefit Trust are Directors of INOX Leisure Limited, purely out of abundant caution, we are also making this declaration in terms of the aforesaid Regulation 7(2)."

At around 2.30 pm, Inox Leisure stock was performing at Rs254.40 per piece surging by 7.98% on Sensex. 

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