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SBI Mutual Fund combined with two other companies infused Rs 1,322 crores in FMCG major Emami Ltd through the purchase of share by the open market transactions, on Monday. According to the information available at BSE, a total of around 3.72 crore shares of Emami Ltd was purchased by SBI Mutual Fund, PI Opportunities Fund I-LT and Pioneer Investment Fund.
In terms of individual entities, PI Opportunities brought shares worth Rs. 199.97 crores, Pioneer Investment purchased shares for Rs. 399.98 crores whereas SBI Mutual Fund purchased shares for a sum of Rs. 722.78 crores. The average price for the scrip stood at Rs. 355 per share.
In a separate transaction, however, seven entities including Emami Ltd promoter Amitabh Goenka sold around 2.3 crore shares for a sum of Rs. 844 crores in Monday bulk deal. Goenka personally sold 40 lakh shares amounting at Rs. 142 crores. The stake sale constitutes of 0.88% equity in the FMCG.
As per the latest shareholding data available with the BSE, 1.67% stake in the company was held by Goenka. Shares of Emami Ltd on Monday closed at Rs 355.05 apiece, posting a fall of 1.61% on the BSE as compared to the previous close.
