Ace investor Rakesh Jhunjhunwala has sold 1.3 million shares in Jubilant Ingrevia Ltd, bringing down his stake in the company by 0.81 percent, according to the December quarter shareholding pattern filing on the BSE.
Jhunjhunwala sold shares valued at Rs 79.44 crore, as per today's share price. Jubilant Ingrevia is trading at Rs 616 apiece, down 3.3 percent. With this sale, Jhunjhunwala holds 50 lakh shares or a 3.14 percent stake in the firm.In December 2020, Jubilant Lifescience got the NCLT approval for its demerger plan to form two separate entities for pharma and LSI (Life Science Ingredients) businesses. The LSI business includes specialty intermediates, nutritional products and life science chemicals. It got listed on bourses under the name Jubilant Ingrevia.
Jubilant Ingrevia has a presence across mainly three segments --Speciality Chemicals (33 percent of revenue), Nutrition and Health Solutions (18 percent) and Life Science Chemicals (49 percent), with strong backward integration and a leading market position.
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