New Delhi: Styrenix Performance Materials promoter Shiva Performance Materials on Thursday offloaded a 16.5 per cent stake in the specialty chemicals maker for Rs 540 crore through an open market transaction.

As per bulk transaction data available with the BSE, Shiva Performance Materials sold 29 lakh shares, which is equivalent to a 16.49 per cent stake in Styrenix Performance Materials.

The shares were disposed of at an average price of Rs 1,862.20 each, taking the transaction size to Rs 540.04 crore.

After the share sale, Shiva Performance Materials' stake in Styrenix Performance Materials decreased from 62.73 percent to 46.24 percent.

Motilal Oswal Mutual Fund (MF), Bandhan MF, Nippon India MF, Enam Investment & Services, Ikigai Emerging Equity Fund, SageOne Investment Managers and Bengal Finance & Investment were among the buyers of Styrenix Performance Materials shares.

Shares of Styrenix Performance Materials fell 3.47 per cent to close at Rs 1,960.80 apiece on the BSE.

In a massive BSE transaction, Meenakshi Gupta and Dhruv Gupta, promoters of SG Mart, sold a 5.4 per cent stake in the company for Rs 268 crore through open market transactions.

As per available data, Meenakshi and Dhruv Gupta sold a total of 60.75 lakh shares, which is equivalent to 5.4 per share in SG Mart.

The shares were sold in the price range of Rs 440 to Rs 442.28 each, taking the combined transaction value to Rs 268.14 crore.

After the stake sale, Gupta's stake in SG Mart was reduced from 52.69 per cent to 47.25 per cent.

Additionally, SG Logistic Management and top investor Ashish Rameshchandra Kacholia bought a total of 34.10 lakh shares of SG Mart.

Details of the other buyers of SG Mart shares could not be determined.

On Thursday, SG Mart scrip fell 0.44 per cent to close at Rs 441.05 apiece on the BSE.