SBI Mutual Fund hikes stake in KPR Mill to 7.7% for ₹900 crore

According to the bulk deal data on the BSE, SBI Mutual Fund bought 97.35 lakh shares or 2.85% stake in apparel manufacturing company KPR Mill.

The shares were picked up at an average price of ₹925 apiece, taking the transaction value to ₹900.54 crore.

After the stake buy, SBI Mutual Fund's holding in KPR Mill has been increased to 7.74% from 4.89%.

Details of the other buyers of KPR Mill's shares could not be identified on the BSE.

Meanwhile, KP Ramasamy, one of the promoters of KPR Mill sold 1.05 crore shares or 3.07% stake in the company at an average price of ₹925.12 apiece.

This took the deal value to ₹971.38 crore.

After the transaction, KP Ramasamy's stake has come down to 18.3% from 21.37%. Additionally, the combined stakeholding of promoters and promoter group entities of KPR Mill has declined to 70.69% from 73.76%.

Shares of KPR Mill fell 0.82% to close at ₹1,002.75 apiece on the BSE.

Last week, SBI Mutual Fund increased its stake in building materials company Nuvoco Vistas Corporation by acquiring nearly 3% stake for over ₹158 crore.

In a separate transaction on the BSE, Societe Generale and Vikasa Capital pared a 1.43% stake in SpiceJet for ₹116 crore through open market transactions.

Paris-based Societe Generale sold 83.56 lakh shares of SpiceJet and Vikasa Capital through its affiliate Vikasa India EIF I Fund offloaded 1 crore shares, amounting to a combined 1.43% stake in Gurugram-based domestic carrier SpiceJet, as per the bulk deal data on the BSE.

The shares were disposed of in the price range of ₹62.90-63.13 apiece, taking the transaction value to ₹115.69 crore.

Meanwhile, Societe Generale acquired 9.40 lakh shares of SpiceJet at an average price of ₹62.43 apiece.

This took the deal value to ₹5.87 crore.

Details of the other buyers of SpiceJet's shares could not be ascertained.

The scrip of SpiceJet declined 5.54% to end at ₹62.38 apiece on the BSE.

SpiceJet on Tuesday said it has successfully resolved its dispute with Engine Lease Finance Corporation (ELFC) through an amicable settlement. ELFC, which had previously claimed USD 16.7 million, has agreed to settle for an undisclosed amount, which is lower than the initial claim.

On Monday, SpiceJet said it has raised ₹3,000 crore through a Qualified Institutional Placement (QIP).

The QIP, which opened on September 16 and closed on September 18, received an overwhelming response from qualified investors and got oversubscribed, demonstrating strong investor confidence in the company's growth prospects.