PG Electroplast Promoters Sell 5.3% Stake for Rs 1,132 Crore in Open Market

On Tuesday, three promoters of PG Electroplast divested a 5.3% stake in the company, amounting to Rs 1,132 crore, through open market transactions. Vikas Gupta, Anurag Gupta, and Vishal Gupta collectively sold 1.50 crore equity shares. The shares were sold at prices ranging from Rs 754.83 to Rs 755.73 each on the BSE.

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Following this transaction, the promoters' and promoter group entities' stake in PG Electroplast Ltd (PGEL) decreased from 49.37% to 44.07%. Meanwhile, the Singapore government acquired 38.18 lakh shares, representing a 1.35% stake in PGEL. Motilal Oswal Asset Management Company also bought an additional 15.89 lakh shares, equating to a 0.56% stake.

Market Activity and Share Prices

The shares acquired by both the Singapore government and Motilal Oswal Asset Management Company were purchased at an average price of Rs 754.80 each, with the total transaction value reaching Rs 408.22 crore. However, details regarding other buyers of PGEL shares remain undisclosed on the exchange.

On the same day, PG Electroplast's share price experienced a slight decline of 0.14%, closing at Rs 765 per share on the BSE. In another transaction on the BSE, BNP Paribas acquired 2.96 lakh shares of Suraksha Diagnostic for Rs 10 crore through an open market deal.

Suraksha Diagnostic Share Transaction

BNP Paribas, through its subsidiary BNP Paribas Financial Markets, purchased these shares at an average price of Rs 338 each. Concurrently, Integrated Core Strategies Asia Pte sold an identical number of shares at the same time on the exchange.

Shares of Suraksha Diagnostic saw a decrease of 2.30%, settling at Rs 327.25 per share on Tuesday on the BSE.

The recent transactions reflect significant activity in both PG Electroplast and Suraksha Diagnostic stocks, with notable changes in ownership stakes and share prices.

With inputs from PTI