SageOne sells 1.24 pc stake in EID Parry India to SBI Mutual Fund for Rs 176 cr

New Delhi, Aug 10 (PTI) Pune-based SageOne Investment Managers on Monday sold a 1.24 per cent stake in sugar manufacturer EID Parry India to SBI Mutual Fund for Rs 176 crore through open market transactions.

EID Parry India Ltd, a flagship enterprise of the Murugappa Group, operates primarily in sugar, farm inputs, nutraceuticals, and consumer food staples across South India.

SageOne Investment Managers LLP offloaded 22.15 lakh equity shares, representing a 1.24 per cent stake in Chennai-based EID Parry India Ltd, according to the block deal data on the NSE.

The shares were disposed of at an average price of Rs 795 apiece, taking the transaction size to Rs 176.09 crore.

Meanwhile, SBI Mutual Fund (MF) bought an equal number of shares at the same

price, as per the data on the National Stock Exchange (NSE).

Following the latest transaction, SBI MF’s holding in EID Parry India increased to 8.35 per cent from 7.11 per cent.

Shares of EID Parry India fell 2 per cent to close at Rs 789 apiece on the NSE.

In a separate deal on the BSE, Capillary Technologies International Pte Ltd, one of the promoters of SaaS firm Capillary Technologies India, divested a 4.14 per cent stake in the company for Rs 171 crore through an open market transaction.

Capillary Technologies International Pte offloaded more than 32.92 lakh shares of the company at an average price of Rs 520.86 apiece, taking the transaction value to Rs 171.49 crore, according to the bulk deal data on the exchange.

After the stake sale, Capillary Technologies International Pte Ltd’s holding in the company declined to 44.78 per cent from 48.92 per cent.

The combined shareholding of promoters and promoter group entities also fell to 47.31 per cent from 51.45 per cent.

Details of the buyers of Capillary Technologies India’s shares could not be ascertained.

Capillary Technologies India offers artificial intelligence-based cloud native Software-as-a-Service (SaaS) products and solutions primarily to enterprise customers globally to develop loyalty of its consumers and channel partner.

Shares of Capillary Technologies India declined a little over 7 per cent to settle at Rs 521.95 apiece on the BSE. PTI HG HG KKS MR