Nalanda Capital sells 1.4% stake in Great Eastern Shipping for Rs 190 crore

14 May 2024 , 11:27 AM

On Monday, investment firm Nalanda Capital sold a 1.4% interest in Great Eastern Shipping Co Ltd for ₹190 Crore in an open market transaction.

Nalanda Capital of Singapore, through its affiliate Nalanda India Equity Fund Ltd, sold shares of Great Eastern Shipping Co Ltd in a bulk trade on the BSE.

According to the data, Nalanda India Equity Fund sold 20 lakh shares, representing a 1.4% holding in Mumbai-based Great Eastern Shipping Co Ltd.

The shares are sold for an average price of ₹950.25, totaling ₹190.05 Crore.

Following the equity sale, Nalanda Capital’s investment in GE Shipping fell from 7.37% to 5.97%.

At around 10.34 AM, Great Eastern Shipping was trading 5.91% higher at ₹1,061.05 per piece, against the previous close of ₹1,001.80 on NSE.

Meanwhile, Ghisallo Master Fund LP bought 19.58 lakh shares at an average price of ₹950 each, according to BSE data.

This increased the deal value to ₹186.03 Crore.

Great Eastern Shipping Co shares increased 0.66% on the BSE to close at ₹998.45 each. Great Eastern Shipping Co Ltd, situated in Mumbai, is India’s largest private-sector shipping company.

In another large transaction on the NSE, Axis Mutual Fund (MF) purchased 26 lakh shares of real estate company Anant Raj for ₹95 Crore in an open market transaction.

According to bulk deal data available on the National Stock Exchange (NSE), Axis MF, through its fund Axis MF A/C Axis Small Cap Fund, purchased 26 lakh Anant Raj Industries shares at an average price of ₹368 per share.

This increased the deal value to ₹95.68 Crore.

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