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

   
Rajalakshmi (C), 28, smiles after winning the Miss Wheelchair India beauty pageant in Mumbai November 26, 2014. REUTERS/Danish Siddiqui

Miss Wheelchair India

Seven women from across India participated in the country's second wheelchair beauty pageant, which aims to open doors for the wheelchair-bound in modelling, film and television, according to organisers  Slideshow 

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:

REUTERS SHOWCASE

WTO Trade Deal

WTO Trade Deal

WTO clinches first global trade deal in its history  Full Article 

Kashmir Attack

Kashmir Attack

Ten dead in Kashmir's worst militant attack in more than a year  Read 

OPEC Meeting

OPEC Meeting

Saudis block OPEC output cut, oil price sinks further.  Full Article 

E-Commerce Boom

E-Commerce Boom

Online grocers come up trumps in India's e-commerce boom   Full Article 

GDP, RBI Preview

GDP, RBI Preview

GDP growth set to weaken, business wants reforms more than rate cut  Full Article | Related Story 

Jaitley to Rajan

Jaitley to Rajan

Jaitley likely to meet Rajan on Monday to urge rate cut  Full Article 

Banking Sector

Banking Sector

India moves to allow more businesses to offer basic financial services.  Full Article 

Jamini Roy

Jamini Roy

Photo Gallery – Bengali household name Jamini Roy’s paintings  Full Article 

Reuters India Mobile

Reuters India Mobile

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