Clarios ARBL Holding exits Amara Raja, Rekha Jhunjhunwala offloads 5.5% stake in Rallis India
Summary
Foreign investor Clarios ARBL Holding LP has exited Amara Raja Batteries by selling the entire 2.39 crore equity shares or 14 percent stake via open market transactions on July 18.The average selling price for shares was Rs 652.97 per share, and the stake sale was worth Rs 1,561.5 crore.However, Tata AIA Life Insurance Company, BNP Paribas Arbitrage, Kotak Mahindra Mutual Fund, Nippon India Mutual Fund, Pinebridge Investments Asia Limited A/C PB Global Funds - Pinebridge India EqFund, and Societe Generale were buyers for some of those shares in the automotive battery manufacturer. They have bought 1.2 crore equity shares or a 7.07 percent stake in the company at an average price of Rs 652 per share.Amara Raja Batteries shares corrected by more than 6 percent to close at Rs 643.Rallis India was also in focus. Europe-based financial services group Societe Generale has bought 60 lakh equity shares or 1.21 percent stake in the steel pipes maker at an average price of Rs 38.17 per share.Eris Lifesciences was also in focus, rising 0.87 percent to Rs 728.55. HDFC Mutual Fund has bought 8.29 lakh equity shares or 0.61 percent stake in the pharma company at an average price of Rs 728.49 per share.However, high networth individual Rakesh Shah was the seller in the deal, offloading 9 lakh shares in Eris at an average price of Rs 728.5 per share. Shah held 11.53 percent stake or 1.56 crore shares in the company as of June 2023.Bright Outdoor Media shares climbed 3.5 percent to Rs 292.