Videocon buys 5.5lk shares of ABG Shipyard for over Rs20 cr

Nippon Investment and Finance, one of the promoter of Videocon Industries, sold 5.5 lakh shares of the private shipbuilder firm. As on June 30, 2012, Nippon held 8.27 lakh shares or 1.62% stake in ABG Shipyard.

The shares were sold at an average price of Rs 366 apiece in a bulk deal worth about Rs 20.13 crore.

At the end of the June quarter, Nippon held 0.25% stake in Videocon Industries as a promoter group entity. In a separate bulk deal, Morgan Stanley Asia (Singapore) Pte acquired 5 lakh shares of Claris Lifesciences for Rs 217.89 apiece translating into a deal worth Rs 11 crore.

However, seller of the shares could not be ascertained.