Candian corporation Canada Pension Plan Investment Board offloaded 2.29 percent equity stake in SBI Life Insurance Company on September 9. It was the largest investor in the insurance major before this salw.
The stake sale deal was carried out through an open market transaction. CPP Investment Board sold 2.3 crore equity shares in SBI Life at Rs 1,171.07 per equity share on the BSE, the bulk deals data showed on September 9.
Prior to this deal, CPP Investment Board held 2,85,83,625 equity shares or 2.86 percent shareholding in the company as of June 2021. CPP has been holding this stake since the quarter ending June 2019. After this deal, its stake in SBI Life will be reduced to 0.55 percent.
On the other hand, BNP Paribas Arbitrage was the buyer of some of those shares, acquiring 96,35,692 equity shares in the insurance company (or 0.96 percent shareholding) at Rs 1,171 per share.
SBI Life Insurance share price fell 3.86 percent on September 9 to close at Rs 1,172.80 on the BSE. In last one year, the stock has gained 41 percent.
Among the other deals, Pivotal Business Managers LLP sold 66,784 equity shares in Ahlada Engineers at Rs 149.28 per share on the NSE.
Chetan Rasiklal Shah has net sold 10 lakh equity shares in Jain Irrigation Systems at Rs 38.6 per share. Sharad Kanayalal Shah also offloaded 25 lakh equity shares in the company at same price on the NSE.
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