Swiss-Asia Holding Pte Sells Grasim Industries Shares Worth Rs 101 Crore

Financial services company Swiss-Asia Holding Pte sold shares of cement producer Grasim Industries for Rs 101 crore through an open market transaction on Thursday. Following the sale, shares of Grasim Industries fell 1.28 per cent to settle at Rs 1,853.50 apiece on the National Stock Exchange (NSE).

Singapore-Based Firm Offloads Shares

Singapore-based Swiss-Asia Holding Pte, through its affiliate Griffin Growth Fund VCC, offloaded 5,48,322 shares of Grasim Industries. The shares were sold at an average price of Rs 1,840 per piece, taking the transaction size to Rs 100.89 crore. These shares were purchased by US-based Cresta Fund Ltd at the same price.

Grasim Industries: A Leading Cement Producer

Grasim Industries Ltd, through its subsidiaries UltraTech Cement and Aditya Birla Capital, is India's prominent cement producer and a leading diversified financial services player. Grasim is a flagship company of the Aditya Birla Group.

Swiss-Asia Holding's Previous Sale

On Wednesday, Swiss-Asia Holding Pte had offloaded its entire 1.03 per cent stake in Aditya Birla Fashion and Retail Ltd (ABFRL) for Rs 207 crore through an open market transaction.

Hypnos Fund Sells Jindal Stainless Shares

In another block deal on the NSE, investment company Hypnos Fund Ltd offloaded 17 lakh shares of Jindal Stainless Ltd for Rs 78 crore through an open market transaction. Hypnos Fund Ltd sold the shares at an average price of Rs 459 apiece, taking the the deal value to Rs 78.03 crore. These shares were purchased by JSL Overseas Ltd, a promoter group entity of Jindal Stainless.

Jindal Stainless Shares Fall

Shares of Jindal Stainless Ltd fell 1.95 per cent to close at Rs 446 apiece on the NSE.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as investment advice. Please consult a qualified financial advisor before making any investment decisions.