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Foreign fund house Credit Suisse (Singapore) today offloaded its entire stake in realty firm Parsvnath Developers for an estimated Rs 19.28 crore.
As per the block deal information with the bourses, Credit Suisse sold its entire holding of 70.52 lakh shares in Parsvnath Developers to Venus Capital Management.
The realty firm’s shares were sold at an average price of Rs 27.35, valuing the transaction at Rs 19.28 crore.
As per the firm’s shareholding pattern for the quarter ended June 30, Credit Suisse held 70.52 lakh shares in Parsvnath Developers, amounting to 1.62 per cent stake in the company.
Parsvnath Developers has diversified portfolio which includes, integrated townships, group housing, commercial complexes, hotels, IT parks, among others.
The company has total developable area of over 195.82 million square feet across all real state verticals.
In a separate bulk deal, ECK Associates Corporation sold 85,441 shares of Reliance Industrial Infrastructure for Rs 2.62 crore. Reliance Industrial Infrastructure is a part of Mukesh Ambani-led, Reliance Group Company.
The firm is engaged in the business of setting up operating industrial infrastructure as well as related activities involving leasing and providing services connected with computer software and data processing.
On the BSE, shares of Parsvnath Developers were down 3.65 per cent to close at Rs 26.40 apiece. Reliance Industrial Infrastructure shares fell 4.32 per cent to end the day at Rs 308.90 apiece.
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