Shares of Clean Science and Technology Ltd fell nearly 2% on May 29 after a block trade in which 4.07 million shares, or a 3.8% stake in the company, changed hands, according to Bloomberg. However, the details of the buyer and seller are not yet known.

The stock was trading at Rs 1,408 on the BSE at 9:25 am, down 1.8% from its previous close. It opened at Rs 1,448.55 and touched an intraday low of Rs 1,406.75.

Earlier, Clean Science announced on the exchange that promoters of the company Asha Ashok Boob, Nilima Krishnakumar Boob and Ashok Sikchi will sell some of their shares in the open market to achieve a minimum public float. The promoter’s shareholding is currently 78.5%.

The company announced that it will sell about 3.51% of its shares or 3.73 million shares in a block deal. Based on Friday’s closing price, the stake sale will be worth Rs 535 crore. “From May 29 to June 30, or the date of actual completion of all stake sales, whichever is earlier,” the company said in a note to the exchange.

Clean Science and Technology posted a stand-alone net profit of Rs 80.9 crore in the March quarter, up 30% year-on-year. Total revenue for the period increased from Rs 211.9 crore to Rs 229.2 crore. Net profit rose to Rs 303.5 crore from Rs 228.6 crore in FY23. Total revenue jumped to Rs 974.5 crore from Rs 714.8 crore.