Curation Team
NEW DELHI: Two promoter entities on Wednesday offloaded their entire 4.1 per cent stake in real estate developer Sunteck Realty for Rs 288 crore through open market transactions. Satguru Infocorp Services and Starlight Systems were the promoter entities that sold their shares in the Mumbai-based real estate developer.
According to the bulk deal data available with the BSE, Satguru Infocorp Services and Starlight Systems disposed of 30 lakh shares each, amounting to a 4.10 per cent stake in Sunteck Realty.
The shares were offloaded in the price range of Rs 479.47-481.65 apiece, taking the combined transaction value to Rs 288.33 crore.
After the transaction, Satguru Infocorp Services and Starlight Systems exited the firm.
In a separate transaction on the NSE, British multinational asset management company Schroders plc through its fund/affiliate acquired more than 10 lakh shares of Sunteck Realty.
As per the bulk deal data, Schroder International Selection Fund Emerging Asia purchased 10,36,718 shares at an average price of Rs 474.71 apiece, taking the deal size to Rs 42.21 crore.
Details of the sellers could not be ascertained on the NSE.
On Wednesday, shares of Sunteck Realty declined 4.40 per cent to close at Rs 476.55 apiece on the BSE, while it slipped 4.19 per cent to settle at Rs 478.50 per piece on the NSE.
