New Delhi, Apr 8 (PTI) US-based investment firm GQG Partners on Wednesday sold nearly 1.29 crore shares of ITC Hotels for Rs 197 crore through an open market transaction.
NRI Rajiv Jain-backed GQG Partners, through its affiliate GQG Partners Emerging Markets Equity Fund, offloaded 1,28,87,559 shares, amounting to a 0.62 per cent stake in ITC Hotels, as per the bulk deal data on the National Stock Exchange (NSE).
The shares were disposed of at an average price of Rs 152.67 apiece, taking the transaction value to Rs 196.75 crore.
After the completion of the transaction, GQG Partners’ holding in ITC Hotels reduced to 1.35 per cent from 1.97 per cent.
Details of buyers of ITC Hotels’ shares could not be ascertained on the exchange.
Shares of ITC Hotels
rose 3.90 per cent to close at Rs 152.50 apiece on the NSE. PTI HG HG BAL BAL BAL
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