Goldman entity sells 1.9 percent stake in M&M

MUMBAI Thu Jul 17, 2014 6:35pm IST

A showroom attendant cleans a Mahindra XUV500 car inside the company's showroom in Mumbai May 30, 2013. REUTERS/Danish Siddiqui/Files

A showroom attendant cleans a Mahindra XUV500 car inside the company's showroom in Mumbai May 30, 2013.

Credit: Reuters/Danish Siddiqui/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - Cyprus-based Golboot Holdings, a firm controlled by Goldman Sachs Group Inc (GS.N) sold 11.8 million shares, or a 1.91 percent stake, in Indian auto maker Mahindra and Mahindra Ltd (MAHM.NS) via a block deal on the BSE exchange.

The sale was carried out at an average price of 1,161.23 rupees a share, according to exchange data.

The data also shows another Goldman entity, Goldman Sachs Singapore Pte, bought 4.26 million Mahindra and Mahindra shares, while Fidelity Destiny Portfolios Fidelity Advisor Diversified Stock bought 4.56 million shares.

Golboot Holdings sold 7 million shares of Mahindra and Mahindra at 1,076.21 rupees each on the NSE on May 14.

Mahindra and Mahindra said in May 2008 it had sold 7 billion rupees worth of convertible debt instruments to Golboot Holdings Ltd to fund its auto and tractor businesses.

Mahindra and Mahindra Ltd (MAHM.NS) shares fell 3.1 percent.

(Reporting by Abhishek Vishnoi and Indulal PM and Anupama Dwivedi)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Economic Pulse

REUTERS SHOWCASE

Apple Result

Apple Result

Apple's iPhone sales beat Street but iPad volumes slide.  Full Article 

Nadella's Paycheck

Nadella's Paycheck

New Microsoft CEO Nadella's pay tops $80 mln with big stock awards.  Full Article 

Deregulation Impact

Deregulation Impact

Private fuel retailers to dip toe, not dive back, into India  Full Article 

Gold Import

Gold Import

RBI will not change gold import rules - sources  Full Article 

Idea Results

Idea Results

Idea Cellular Q2 profit up 69 percent  Full Article 

An RBI First

An RBI First

RBI releases minutes of financial stability council's Aug meet  Full Article 

IBM Earnings

IBM Earnings

IBM ditches 2015 operating EPS target, shares slump 7 pct  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage