APL Apollo Tubes promoter sells co’s shares worth Rs 289 cr

NEW DELHI: APL Infrastructure Pvt Ltd on Tuesday offloaded 30 lakh shares of value somewhat over Rs 289 crore by way of an open market transaction.

As per bulk deal knowledge obtainable on BSE, 30 lakh shares of APL Apollo Tubes had been bought by APL Infrastructure at a mean value of Rs 965.15 apiece. This took the full deal worth to Rs 289.54 crore.

In a separate transaction, 8.59 lakh shares of APL Apollo had been bought by Smallcap World Fund Inc at a mean value of Rs 965 per scrip.

In response to the corporate’s newest shareholding sample, APL Infrastructure held 34.86 per cent stake in APL Apollo Tubes as a promoter.

On Tuesday, shares of APL Apollo settled 2.17 per cent decrease at Rs 956.25 apiece on the BSE.

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