VIP Industries’s promotes sell an interest RS 343 Crore through Bulk Deals

VIP Industries’ Promoter Entities Kiddy Plast Limited and Piramal Vibhuti Investments Limited sold on Friday Stakes worth RS 343 Crore via Bulk Deals. The shares were sold with an almost 9% discount compared to Thursday’s closing price.

Kiddy Plast sold more than 10.87 Lakh shares in the luggage production company at a price of RS 388 each with the dealer size on RS 42.18 crore while Piramal Vibhuti Investments more than 77.52 Lakh shares for a price of RS 388.25 per share of 301 crore.

VIP Industries shares ended today at RS 409 on the BSE, Down with RS 17.10 or 4.01% on the Thursday final race of RS 426.10

The buyers in the deal were Multiples Private Equity Gift Fund IV, Samvibhag Securities Private Limited and Multiples Private Equity Fund IV. They bought shares worth RS 122 Crore, 85 Crore and RS 111 Crore, respectively.

VIP Industries -shares have been market laggards and will fall 28%in the past year. The fall has been sharper than Headline indices BSE SENSEX and NSE who have fallen 5.6% and 5.2% in the same period.

The share is currently being traded under the 50-day simple advancing average (SMA) of RS 438, while above its 200-day SMA of RS 388.9 according to Trendlyne data. The shares have traded with high volatility with high volatility with a 1 -year -old beta of 1.1. The total turnover of VIP Industries in the aforementioned quarter was RS 566 Crore, which was a fall of 11.7% on an annual basis.

Also read: NDR Invit Trust Bulk Deals: Radhakishhan Damani chooses RS 100 CR -Selang; Rakesh Jhunjhunwala Trust Invests RS 67 CR

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