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IDBI Bank has cut its stake In Punjab Alkalies & Chemicals (PAC). According to bulk deal data on the BSE, the bank has been selling its stake in the company. In 2018 so far, IDBI Bank has sold 18.11 lakh shares of PAC.
Recently on February 28, IDBI sold 9.65 lakh shares at an average price of ₹25.35 and the shares were bought by Dayawati Dahiya.
At the end of December 2017, IDBI Bank was holding 47.10 lakh shares, or 17.35 per cent stake in PAC.
IFCI too sold 2.678 lakh shares on February 19 and Nipun Khosla was the major buyer of those shares. Financial institutions held 8.197 lakh shares, or 3.02 per cent, at the end of December 2017. The other major shareholders in PAC include LIC, which owns 1.82 per cent stake or 4.93 lakh shares.
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