RIL Share: Reliance Industries sold 3.5 crore shares of Asian Paints - Know who bought?

News Topical, Digital Desk : Reliance Industries (RIL) has informed that it has sold its stake in Asian Paints through a block deal at a price of Rs 2201 per share. Nifty 50 giant Reliance Industries Limited informed the exchanges on Thursday, June 12 that the company was the seller in the Asian Paints block deal through its unit. The company has sold 3.5 crore shares of Asian Paints.

The company said in a statement to the exchanges, "3.5 crore equity shares of Asian Paints held by Reliance Industries Limited through Siddhant Commercials Limited were sold today at a price of Rs 2201 per share, leaving the company with 87 lakh equity shares of Asian Paints." The total value of this deal is being reported to be ₹ 7,703 crore.

Who was the buyer? SBI Mutual Fund was the buyer of the entire stake in this deal. At the end of the March quarter, Siddhant Commercials held 4.9 per cent stake in Asian Paints. As of March 31, India's domestic mutual funds held 5.67 per cent stake in Asian Paints, with ICICI Prudential (1.24%) and SBI MF (1.51%) holding major stakes in the company. India's largest insurance company Life Insurance Corporation of India (LIC) is also the largest public shareholder in Asian Paints with an 8.29% stake. Stock performance The company's stock closed at Rs 1,439.50 on Thursday, down 0.65 per cent. In the last one year, the company's stock has seen a decline of 1.63 per cent.

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