Red­ing­ton In­dia pro­moter sells 5% stake

The DQWeek (Mumbai) - - CHANNEL BONANZA - DQW NEWS BUREAU Mum­bai

Red­ing­ton ( In­dia) pro­moter Har­row In­vest­ment Hold­ing has off­loaded 5% stake in the firm for Rs 250 crore through an open mar­ket trans­ac­tion.

Ac­cord­ing to the web­site of Red­ing­ton (In­dia), the firm has al­liances with brands like Ap­ple, Sam­sung, LG and Pana­sonic, among oth­ers.

Har­row In­vest­ment Hold­ing sold 1.99 crore shares or 4.98% stake in Red­ing­ton (In­dia), as per the bulk deal data avail- able with BSE.

The shares were dis­posed of at an av­er­age price of Rs 125, valu­ing the trans­ac­tion at Rs 249.37 crore, as per the data.

As of March quar­ter, Har­row held 8.2% stake in Red­ing­ton (In­dia).

Among the buy­ers of the shares are Norges Bank on Ac­count of the Gov­ern­ment Pen­sion Fund Global, which bought 1.19 crore shares, and Reliance Mu­tual Fund, which pur­chased 70 lakh shares of the firm.

Shares of Red­ing­ton (In­dia) ended 6.89% higher at Rs 135.75 apiece on BSE Fri­day.

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