Omega pares additional 2.29% stake in Shriram Properties

24 Aug 2023 , 10:57 AM

Reportedly, foreign business Omega TC Sabre Holdings Pte Limited sold an additional 2.29% investment, or 39 lakh shares, in the real estate developer, Shriram Properties.

Omega TC Sabre Holdings Pte Limited sold the shares on the open market for an average price of Rs 78.44 per share, aggregating to Rs 30.59 crore, according to bulk deal data.

Omega had sold 18 lakh shares, or 1.06% of its holding in Shriram Properties, in the previous session.

So far, Omega has divested a 3.35% holding against a 9.39% stake held on June 30, 2023.

Reportedly, 91 lakh Shriram Properties shares changed hands on the markets earlier this week, which was three times the company’s monthly trading average. This year, the stock has increased by 13%.

Shriram Properties’ net profit increased 59% year-on-year (YoY) to Rs 16 crore in the April-June quarter. In the April-June quarter, total sales climbed by 8% year-on-year to Rs 157 crore.

Shriram Properties announced on August 16 that it was planning to introduce 5.7 million square feet (MSF) of saleable space this fiscal year.

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