“Please note that 3.5 crore equity shares of Asian Paints, held by Reliance Industries Ltd., through Siddhant Commercials Ltd., have been sold today at a price of ₹2,201 per share, leaving a balance of 87 lakh equity shares of Asian Paints,” Reliance Industries said in an exchange filing on Thursday.
As many as 3.64% of Asian Paints changed hands in the pre-market block window early on Thursday morning. The total value of the transaction is said to be ₹7,703 crore.
Buyers in this transaction will be disclosed later this evening.
At the end of the March quarter, Siddhant Commercials held a 4.9% stake in Asian Paints.
India’s domestic mutual funds held a 5.67% stake in Asian Paints as of March 31, with ICICI Prudential (1.24%) and SBI MF (1.51%) have a prominent stake in the company.
Life Insurance Corporation of India (LIC), India’s largest insurance company, is also the largest public shareholder in Asian Paints, with a 8.29% stake.
As many as 11.73 crore small retail shareholders, or those with authorised share capital of up to ₹2 lakh, had a 11.84% stake in Asian Paints.
Shares of Asian Paints ended off the highs of the day, but with gains of 0.7% at ₹2,225.
