Standard Chartered sells CG Power shares worth Rs 298 crore

Standard Chartered Bank (Singapore) Ltd offloaded 1.38 crore shares of CG Power and Industrial Solutions shares for Rs 298 crore on Wednesday through an open market transaction.

According to block deal data available with BSE, Standard Chartered Bank (Singapore) Ltd sold 1,38,45,000 shares in six tranches, amounting to a 0.91 per cent stake in the company.

The shares were disposed of at an average price of Rs 215 apiece, taking the transaction value to Rs 297.66 crore. Meanwhile, Societe Generale, DSP Mutual Fund and HDFC Life Insurance company Ltd picked up the shares of the company.

Shares of CG Power and Industrial Solutions closed 1.65 per cent higher at Rs 219.25 on BSE.