Centum Electronics promoter sells 4.5% stake for Rs 153 crore

Centum Electronics promoter on Friday sold a 4.53 per cent stake in the company for Rs 153 crore through an open market transaction.

According to the bulk deal data on the BSE, Mallavarapu Venkata Apparao -- one of the promoters of Centum Electronics -- offloaded 6.65 lakh equity shares, amounting to a 4.53 per cent stake in the company.

The shares were disposed of at an average price of Rs 2,300.93 apiece, taking the transaction value to Rs 153.19 crore.


Following the stake sale, Apparao's holding in Centum Electronics has reduced to 35.57 per cent from 40.10 per cent.

Meanwhile, HDFC Mutual Fund bought 2.15 lakh shares, or 1.5 per cent stake, in Centum Electronics while 3P Investment Managers through its affiliates -- 3P India Equity Fund 1 and 3P India Equity Fund 1M acquired 3 lakh shares, or 2.04 per cent holding, in the company, as per the data.

The shares were purchased at an average price of Rs 2,300 apiece, taking the combined deal value to Rs 118.45 crore.

Details of the other buyers of Centum Electronics shares could not be identified on the exchange.

Shares of Centum Electronics rose 0.74 per cent to close at Rs 2,412.70 apiece on the BSE. PTI