Crompton Greaves' two promoters sell companies shares worth over Rs 1,631 crore

Macritchie Investments Pte Ltd and Amalfiaco Ltd, promoters of Crompton Greaves Consumer Electricals Ltd, offloaded firm's shares worth over Rs 1,631 crore through open market transactions.

Macritchie Investments sold over 1.89 crore scrips at an average price of Rs 296.54 per scrip, valuing the deal at Rs 561.23 crore, as per bulk deal data on NSE.

Amalfiaco offloaded over 3.6 crore shares at Rs 296.57 apiece, taking the transaction value to Rs 1,069.84 crore, the data showed.

As per the shareholding data for September 2020 quarter, Macritchie Investments and Amalfiaco held 9.01 per cent and 17.17 per cent stake, respectively, in Crompton Greaves.

Through separate transactions, HDFC Standard Life Insurance Company Ltd bought 45 lakh shares of Crompton Greaves, while Societe Generale bought 37.67 lakh shares and SBI Mutual Fund bought 1.01 crore scrips, the data showed.

The entities purchased the scrips in the price range of Rs296.49 to Rs 296.50 apiece.

Shares of Crompton Greaves on Tuesday ended 2.18 per cent lower at Rs 299 apiece on the NSE.