Eureka Forbes promoter Lunolux offloaded a 10 percent equity stake in the company via open market transactions on BSE. According to bulk deals data available on BSE, Lunolux sold 19,347,924 shares at an average price of Rs 506.06 valuing the deal at Rs 979.12 crore. The promoter held a 72.56 percent stake in the company as of December 2023.
Lunolux Ltd is a special purpose vehicle established by AI Global Investments (Cyprus) PCC Ltd, which acts as the investment hub for Asia for all the funds managed by Advent International.
Goldman Sachs, Cassini Partners, Plutus Wealth Management, Morgan Stanley Asia, Aditya Birla Sun Life Insurance, Societe Generale, Hill Fort India Fund, BOFA Securities Europe SA were the buyers.
Goldman Sachs India Equity Portfolio picked up the highest amount of shares, as it acquired a 1.21 percent stake or 2,345,220 shares at an average price of Rs 504.95 amouting to Rs 118.42 crore.
Morgan Stanley Asia PTE bought 1,944,294 shares or 1 per cent stake at the same buying price, acquiring shares worth Rs 98.17 crore.
Aditya Birla Sun Life Insurance 0.56 percent stake or 1,089,198 shares, buying Rs 54.99 crore.
Shares of Eureka Forbes fell 3.55 percent to Rs 491.95 on BSE in the session.
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