Verlinvest Asia pared 12.56% stake in Sula Vineyards for Rs 513 crore

After the transaction, Verlinvest Asia Pte Ltd's shareholding in Sula Vineyards fell to 6.08 percent from 18.64 percent stake

Investment company Verlinvest Asia Pte Ltd on Thursday divested a 12.56 percent stake in wine producer Sula Vineyards for Rs 513 crore through an open market transaction.

Following the stake sale, shares of Sula Vineyards declined 3.62 percent to close at Rs 490.30 apiece on the NSE.

According to the bulk deal data available with the NSE, Verlinvest Asia Pte offloaded a total of 1.06 crore shares, amounting to a 12.56 percent stake in Sula Vineyards.

The shares were sold at Rs 484.13 per piece, taking the transaction size to Rs 513.17 crore.

After the transaction, Verlinvest Asia Pte Ltd's shareholding fell to 6.08 percent from 18.64 percent stake, shareholding data showed with the exchange.

Meanwhile, HDFC Mutual Fund, Ghisallo Master Fund LP, Morgan Stanley Asia Singapore Pte, Societe Generale acquired a total of 59.58 lakh shares of Sula Vineyards at Rs 484 per piece.

This took the deal value to Rs 288.39 crore.