TD Power Systems Stake Sale: 7.4% Stake Sold for Rs 530 cr

New Delhi, May 22 (PTI) Three promoter entities and a public shareholder of TD Power Systems on Thursday sold a total of 1.15 crore shares or 7.4 per cent stake in the company for Rs 530 crore through open market transactions.

According to the bulk deal data available on the BSE, Nikhil Kumar offloaded 45 lakh shares of TD Power Systems, Saphire Finman Services LLP sold 33 lakh scrips and Hitoshi Matsuo disposed of 21 lakh shares, cumulatively a 6.33 per cent holding in the company.

Apart from these three promoters, a public shareholder -- Lavanya Sankaran -- offloaded 16 lakh shares, amounting to a 1.02 per cent holding in TD Power Systems.

The shares were disposed of in the price range of Rs 460.09-463.28 apiece, taking the combined transaction value to Rs 530.44 crore.

After the latest transaction, the combined promoters and promoter group entities' holding in TD Power Systems declined to 26.89 per cent from 33.22 per cent.

Meanwhile, Goldman Sachs Funds - Goldman Sachs India Equity Portfolio picked up additional 10.93 lakh shares of TD Power Systems and Blend Fund 2 acquired 13.04 lakh scrips, collectively 1.53 per cent stake in the company, as per the data on the exchange.

The shares were purchased at an average price of Rs 460 per piece, taking the deal value to Rs 110.31 crore.

Details of the other buyers of TD Power Systems shares could not be ascertained on the exchange.

On Thursday, shares of TD Power Systems fell 2.01 per cent to close at Rs 484.15 apiece on the BSE.