VRL Logistics promoter pares 4% stake for Rs 238 crore

The shares were sold at an average of Rs 681.08 apiece, taking the transaction value to Rs 238.38 crore.

Promoter of VRL Logistics Ltd on Friday divested a 4 per cent stake in the transport and logistics company for Rs 238 crore through an open market transaction.

Following the stake sale, shares of VRL Logistics fell 0.50 per cent to close at Rs 706.75 apiece on the BSE. As per the bulk deal data available with the BSE, Anand Vijay Sankeshwar, one of the promoters of VRL Logistics, offloaded 35 lakh shares, amounting to a 4 per cent stake in the company. The shares were sold at an average of Rs 681.08 apiece, taking the transaction value to Rs 238.38 crore. After the transaction, Sankeshwar’s shareholding has declined to 31.43 per cent from 35.43 per cent.

The combined shareholding of the promoter and promoter group has also reduced to 60.24 per cent from 64.24 per cent. Meanwhile, SBI Mutual Fund on Friday acquired 19.29 lakh shares of VRL Logistics in two tranches at an average price of Rs 681 apiece. This took the deal value to Rs 131.36 crore.