Promoters dilute 6% stake in electronic products designer Avalon Tech for Rs. 871-Cr

Three promoter entities of Chennai-based Avalon Technologies - Bhaskar Srinivasan, KBS Family Trust, and BBS Family Trust - have sold a combined 6% stake in the firm for INR 871 crore through bulk deals. The transaction, executed on the BSE, reduced the combined holding of the promoters and promoter group from 44.39% to 38.4%.Founded in 2000, Avalon Technologies is an electronic manufacturing services firm. Kotak Mahindra Mutual Fund participated in the transaction, purchasing 24.01 lakh shares, representing a 3.59% stake, at an average price of Rs 2,171 per share.