New Delhi: APL Infrastructure, the promoter entity of APL Apollo Tubes, on Friday sold a little more than 1 per cent stake in the company for Rs 485 crore through an open market transaction.
According to bulk deal data available with the National Stock Exchange (NSE),
APL Infrastructure sold 30 lakh shares, which is equivalent to 1.08 per cent stake in APL Apollo Tubes.
The shares were settled at an average of Rs 1,618.80, taking the deal size to Rs 485.64 crore.
After the stake sale, APL Infrastructure's stake in APL Apollo Tubes has reduced from 27.69 percent to 26.61 percent. The combined promoters' stake in APL Apollo Tubes has also declined from 29.44 per cent to 28.36 per cent.
Meanwhile, these shares were bought by SG Tech Engineering at the same price.
On Friday, shares of APL Apollo Tubes closed at Rs 1,614.35 with a gain of 2.69 per cent on the NSE.
According to bulk deal data available with the National Stock Exchange (NSE),
APL Infrastructure sold 30 lakh shares, which is equivalent to 1.08 per cent stake in APL Apollo Tubes.
The shares were settled at an average of Rs 1,618.80, taking the deal size to Rs 485.64 crore.
After the stake sale, APL Infrastructure's stake in APL Apollo Tubes has reduced from 27.69 percent to 26.61 percent. The combined promoters' stake in APL Apollo Tubes has also declined from 29.44 per cent to 28.36 per cent.
Meanwhile, these shares were bought by SG Tech Engineering at the same price.
On Friday, shares of APL Apollo Tubes closed at Rs 1,614.35 with a gain of 2.69 per cent on the NSE.
