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CG Power locked in upper circuit after Yes Bank cuts its stake in company

GDN Investments acquired 46 lakh shares in CG Power at Rs 14.66 per share on the BSE.

August 19, 2020 / 11:54 AM IST
 
 
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CG Power and Industrial Solutions was locked in 5 percent upper circuit on August 19 morning after the private lender Yes Bank offloaded its stake in the company.

Yes Bank offloaded 8.27 percent equity stake in CG Power, via open market transactions on August 18.

Yes Bank sold 2.8 crore equity shares in the company at Rs 14.6 per share on the National Stock Exchange (NSE), and 2.4 crore shares at Rs 14.66 per share on the BSE, the bulk deals data showed.

The lender held 12.79 percent equity stake in the company as per the shareholding pattern as of June 2020.

However, GDN Investments acquired 46 lakh shares in CG Power at Rs 14.66 per share on the BSE.

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On August 17, non-banking financial company L&T Finance exited CG Power by selling its 8.4 percent stake via open market transactions.

There were pending buy orders of 4,502,827 shares, with no sellers available

At 11:03 hrs CG Power and Industrial Solutions was quoting at Rs 15.39, up Rs 0.73, or 4.98 percent on the BSE.
Moneycontrol News
first published: Aug 19, 2020 11:54 am
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