Privi Speciality Chemicals shares in focus as promoters sell 4.09% stake for ₹330 crore; check details

Privi Speciality Chemicals' promoters – Bhaktavatsala Rao Doppalapudi, Vijaykumar Doppalapudi, Vinaykumar Doppalapudi Rao and Vivira Investment and Trading – sold a total of 16 lakh shares, or a 4.09% stake in the company, as per the bulk deal data on the NSE.

The transaction, valued at around ₹329.88 crore, was executed in the price range of ₹2,055-₹2,087.70 per share.

After the transactions, the combined promoter holding in Privi Speciality Chemicals has reduced to 69.96% from 74.05% earlier.

Meanwhile, SBI Mutual Fund and SBI Funds Management collectively bought a little over 15.02 lakh shares, representing a 3.85% stake in Navi Mumbai-based Privi Speciality Chemicals, at an average price of ₹2,055 apiece.

This took the deal value to ₹308.81 crore.

Following the stake buy, SBI Mutual Fund's shareholding in Privi Speciality Chemicals has risen to 5.27% from 1.42%.

Details of the other buyers of Privi Speciality Chemicals could not be ascertained on the National Stock Exchange (NSE).

Shares of Privi Speciality Chemicals closed 0.15 per cent lower at Rs 2,455 per piece on the NSE.

About Privi Speciality Chemicals

Privi Speciality Chemicals is one of the notable manufacturers, suppliers and exporters of aroma and fragrance chemicals. Privi started manufacturing aroma chemicals in 1992 with only two products, which it gradually expanded to a range of over 75 products today, having a capacity of over 48,000 tonnes per annum, per the company's website.

Privi also develops and produces custom-made aroma chemicals as per the specific requirements of the customer.

"Privi has been a partner of choice for customers like Givaudan, Firmenich, Symrise, Mane, EFF, P&G, Reckitt Benckiser, etc. Privi caters to all the world’s 10 largest fragrance companies, which control 2/3 of the global fragrance market, and has a presence in Europe and the USA," the company website adds.

Other bulk deal details

In a separate bulk deal on the BSE, Hong Kong-based SAIF Partners, through its arm SAIF Partners India IV, sold 53.98 lakh shares, or a 1.38% stake, in Le Travenues Technology, which operates the travel booking platform ixigo, for ₹97 crore.

The shares were sold at an average price of ₹180.50 apiece, taking the deal value to ₹97.43 crore.

Following the share sale, SAIF Partners holding in Le Travenues Technology dipped to 12.64% from 14.02%.

Meanwhile, London-based investment manager Schroders bought 53.68 lakh shares, amounting to a 1.37% stake in Le Travenues Technology, at the same price for ₹96.90 crore.

Details of the other buyers of Le Travenues Technology's shares could not be identified on the bourse, PTI reported.

Shares of Le Travenues Technology fell 2.55% to close at ₹176.05 apiece on the BSE.

In another transaction on the NSE, US-based Goldman Sachs Asset Management sold 1.77 lakh shares, or a 0.73% stake, in luxury and premium watch retail player Ethos for ₹45 crore.

The shares were offloaded at an average price of ₹2,700.67 apiece, taking the deal size to ₹48.06 crore.

Details of the buyers of Ethos shares could not be ascertained on the NSE.

The scrip of Ethos depreciated by 5.20% to finish at ₹2,700.10 apiece on the exchange.