SJS Enterprises' promoter entity pares 29.5% stake for Rs 550 crore

Evergraph Holdings Pte offloaded a total of 91,64,033 shares in two tranches, amounting to a 29.52 percent stake in SJS Enterprises, as per bulk deal data available with NSE. (Representative Image)

SJS Enterprises promoter entity on Tuesday divested a 29.5 percent stake in the decorative aesthetics solutions provider for nearly Rs 550 crore through open market transactions. Aditya Birla Sun Life Mutual Fund (MF), Quant MF, Sundaram MF, Morgan Stanley Asia Singapore Pte, Societe Generale, Alchemy Emerging Leaders of Tomorrow and Florida Retirement System Allspring Global Investments LLC EMSC, among others were the buyers of shares of SJS Enterprises.

Evergraph Holdings Pte offloaded a total of 91,64,033 shares in two tranches, amounting to a 29.52 percent stake in SJS Enterprises, as per bulk deal data available with NSE. The shares were sold in the range of Rs 600-600.06 apiece, taking the combined transaction value to Rs 549.86 crore.

Post the transaction, Evergraph Holdings Pte shareholding has declined to 4.63 percent from 34.15 percent stake, while the combined shareholding of the promoters and promoter group has reduced to 21.81 percent from 51.33 percent equity in SJS Enterprises at the end of the June quarter. Shares of SJS Enterprises jumped 3.75 percent to close at Rs 644 per piece on the NSE.