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Minda Corp divests 15.07 % stake in autocomp maker Pricol for Rs.631-Cr

Business Standard  

Minda Corporation has offloaded a 15.07% stake (1.83 crore shares) in fellow listed automotive components maker Pricol Ltd for around INR 631 crore through an open market transaction. The shares were disposed of at an average price of INR 343.50 apiece.ICICI Prudential Mutual Fund (MF), Fidelity India Fund, Tata MF, Aditya Birla Sun Life Insurance Company, Goldman Sachs India, City of New York Group Trust, and Carnelian Asset Management & Advisors, among others, were the buyers of Pricol's shares.After the latest transaction, Minda Corporation's shareholding has declined to 0.63 % from a 15.70 % stake (at the end of December quarter) in the company.