TVS Motor Company promoter entity sells 2.56 million for Rs 262 cr

A promoter entity of TVS Motor Company on Monday offloaded 25.69 lakh shares of the company for Rs 262 crore through an open market transaction.

According to the bulk deal data available with the BSE, Srinivasan Trust sold 25,69,726 shares, amounting to 0.54 per cent stake in the company.

The shares were disposed of at an average price of Rs 1,020.03 per scrip, taking the transaction value to Rs 262 crore.

As of quarter ended September, Srinivasan Trust held 0.54 per cent stake in the company, shareholding data showed with the exchange.

Shares of TVS Motor Company closed 3.01 per cent lower at Rs 1,017.75 per piece on BSE.

In a separate transaction, Sequoia Capital India Investments IV, an affiliate of Sequoia Capital India sold shares of Go Fashions (India) Ltd for Rs 228 crore through an open market transaction.

Sequoia Capital India Investments IV offloaded 20 lakh scrips of the company at an average price of Rs 1,140.14 per piece, taking the transaction value to Rs 228 crore,