Triveni Engineering Industries divests its entire stake in Triveni Turbine

25 Sep 2022 , 01:33 AM

Triveni Engineering Industries announced the divestment of its entire 2185Percentage stake in Triveni Turbine TTL worth Rs 1609 crore unlocking significant value for shareholders Driven by strong investor demand the sale of shares was to marquee investors including sovereign wealth funds such as GIC Abu Dhabi Investment Authority ADIA foreign institutions such as Nomura Plutus and leading mutual funds such as SBI MF Aditya Birla MF Sundaram MF Invesco MF The Company has undertaken the sale on 21 September 2022 in the following manner 1 10Percentage of the total paid-up capital of TTL was sold to Rati Sawhney one of the existing promoters by way of inter-se transfer between promoters at a price of 229 per sharebased on the previous day closing price of 22895 per share on NSE through block trading window on stock exchange; and 2 1185Percentage of the total paid-up capital of TTL was sold to multiple leading institutional investors through block trading window on the screen-based trading system of the stock exchanges at a price of 22670 per share