Gravita India promoters sell shares worth Rs 498- Cr

The promoter of Jaipur-based Gravita India , Rajat Agarwal, has sold 3.4% stake for INR 498 crore (25,00,000 shares at INR 1,991.52 per share) through an open market transaction. Post transaction the promoter's holding in company declined to 32.39% from 35.77 %Motilal Oswal Asset Management purchased 7,33,000 shares for INR 145.98 crore.Founded in 1992, Gravita India operates in the recycling industry and is a leading global turnkey recycling solution provider. The company recycles lead, lead alloys, aluminium alloys, plastic granules, and rubber. The company operates in 70 countries and has 12 manufacturing facilities.