In a significant development, the promoter of VRL Logistics Ltd has divested a 4 percent stake in the transportation and logistics company, amounting to Rs 238 crore, through an open market transaction. Following this sale, the shares of VRL Logistics concluded 0.50 percent lower at Rs 706.75 on the BSE. Anand Vijay Sankeshwar, a promoter of VRL Logistics, executed the sale of 35 lakh shares, equivalent to a 4 percent stake in the company.
Promoter’s 4% Stake Divestment in VRL Logistics
The transaction was carried out at an average price of Rs 681.08 per share, resulting in a total deal value of Rs 238.38 crore. As a result of this transaction, Sankeshwar’s ownership in VRL Logistics has decreased from 35.43 percent to 31.43 percent.
Sankeshwar’s Ownership Decline and SBI Mutual Fund Investment
Furthermore, the combined stake of the promoter and promoter group in the company has also decreased from 64.24 percent to 60.24 percent. Simultaneously, SBI Mutual Fund acquired 19.29 lakh shares of VRL Logistics in two tranches at an average price of Rs 681 per share, amounting to a total value of Rs 131.36 crore.
While the stock experienced a dip on the NSE following the stake sale, it has shown a 3.65 percent increase in the past week and a more than 2 percent rise in the last month. Over the course of one year, it has seen a substantial increase of 14.65 percent. The 52-week high for this share stood at Rs 772.50, with a 52-week low of Rs 483.
