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The Economic Times
The Economic Times
Business
Kumar Gaurav

Avalon Tech block deal: Promoters divest 6% stake worth Rs 871 crore

Avalon Technologies witnessed a Rs 870.6 crore bulk deal on the BSE on Wednesday, with three promoter entities selling a combined 40.08 lakh shares, or 6% of the company's equity. Kotak Mahindra Mutual Fund bought 24.02 lakh shares, representing about 3.6% stake, at Rs 2,171 apiece for Rs 521.38 crore, according to BSE bulk-deal data.

KBS Family Trust sold 13.36 lakh shares at Rs 2,173.35 apiece, while Bhaskar Srinivasan and BBS Family Trust each sold 13.36 lakh shares at Rs 2,171.03 and Rs 2,171.04, respectively. The three transactions together were valued at Rs 870.61 crore.

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