SBI Mutual Fund on Friday raised an additional 3.8% stake in Auto Components Maker Happy Forging Limited, which was for Rs 341 crore through an open market transaction.
According to data from the Bulk Deal available with BSE, SBI Mutual Fund bought 35.91 lakh shares, which was a 3.8% stake in Happy Forgeing.
The shares were acquired at an average price of Rs 950, the transaction price was taken to Rs 341.22 crore.
After the transaction, the holding of SBI Mutual Fund in Happy Forging has increased from 1.97% to 5.77%.
Meanwhile, Business Excellence Trust III launched a 4.2% stake in Happy Forgeing for Rs 39.10 lakh shares or Rs 371 crore through the open market transaction.
The Business Excellence Trust III is a SEBI-approved optional investment fund managed by Mop Investment Advisors. Mop, Motilal Oswal, a subsidiary of Financial Services Limited ..
The shares were sold at an average price of Rs 950.06 per piece, making the deal price to Rs 371.48 crore.
According to the latest transactions, Holding in Ludhiana-based Happy Forge of Business Excellence Trust III has reduced from 8.3% to 4.1%.
The details of other buyers of Happy Foregings shares were not revealed on the boors.
Happy forging shares fell by 1.32% to Rs 1,009.15 on BSE.
Read more on markets by NDTV profit. (Tagstotransite) Happy Forgeing Limited (T) PTI (T) SBI Mutual Fund
