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7 June 2018
 |
Big Bazaar(The Total Investment & Insurance Solutions)
Bharti
Group entity Cedar Support Services today sold 6 per cent stake in Kishore
Biyani-led Future Retail for nearly Rs 1,697 crore, through open market transactions. The Total Investment & Insurance
Solutions
According
to the bulk deal data available with the NSE, Cedar disposed of 3.03 crore
shares, amounting to 6.04 per cent stake in Future Retail.
The
shares were offloaded at an average price of Rs 560.01, valuing the transaction
at Rs 1,696.83 crore. The Total
Investment & Insurance Solutions
At
the end of March quarter of 2017-18, Cedar held 4.63 crore shares, or 9.23 per
cent stake, in the Kishore Biyani-led firm.
Among
the buyers of the shares was Pi Opportunities Fund I and Pioneer Investment
Fund. The Total Investment &
Insurance Solutions
Pi
Opportunities Fund I bought 2.27 crore shares at an average price of Rs 560 for
a total of Rs 1,272.71 crore. The Total
Investment & Insurance Solutions
Pioneer
Investment Fund picked up 71.43 lakh shares at an average price of Rs 560 for
Rs 400 crore. The Total Investment
& Insurance Solutions
Last
month, Cedar had exited a Kishore Biyani-led firm -- Future Enterprises -- by
selling its 13.64 per cent stake for an estimated sum of over Rs 240 crore.
Separately,
the bulk deal data on the BSE showed that Cygnet Industries sold 12.89 lakh
shares of Century Textiles & Industries for Rs 120.36 crore.
All the shares were bought by Pilani
Investment and Industries Corporation. VRN SBT SBT.The Total Investment & Insurance Solutions
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