VST Industries large deal: Radhakishan Damani sells shares worth ₹4.39 crore

Damani sold these shares in a bulk deal on Thursday, September 19, according to NSE data. Reliance Mutual Fund and Thrift Savings Plan were among the buyers of shares in the large deal category.

The data showed that Damani sold 1,00,000 shares of VST Industries in a bulk deal at a price of ₹439.05 per share, taking the total transaction size to ₹4.39 crore. Damani held a 3.47% stake or 5,35,185 shares of VST Industries in personal capacity as of June 30, 2024.

Damani through his investment firms held around 31% stake in the company as of June 30, 2024.

The exchange data showed that Reliance Mutual Fund bought 85,000 shares of VST Industries at a price of ₹439.96 apiece, taking the deal size to around ₹3.74 crore.

Thrift Saving Plan bought 83,970 shares of VST Industries at a price of ₹440.74 per share for a total transaction value of ₹3.70 crore.

VST Industries shares gained nearly 1% to settle at ₹440 per share on NSE on Thursday.

The large deals follow VST Industries receiving approval from stock exchanges on September 16 for listing of 15,44,19,200 equity shares of ₹10 each allotted pursuant to bonus issue.

Tobacco products maker VST Industries had announced a bonus issue of 10:1, or the issue of 10 bonus shares for every one share held by shareholders. The record date was September 6.

Damani with a little over 34% stake in VST Industries was the biggest beneficiary of the bonus issue. Damani had sold a 2.26% stake in VST Industries ahead of the first quarter results.

VST Industries reported a 3.5% drop in revenue to ₹321.33 crore for the latest June quarter compared to the year-ago period. Its EBITDA fell by 30.4% to ₹73.28 crore in Q1 FY25 compared to the year-ago period.