This Article is From Feb 27, 2013

CLSA Mauritius sells stake in Essar Ports, Essar Shipping

CLSA Mauritius sells stake in Essar Ports, Essar Shipping

Foreign fund house CLSA Mauritius Ltd on Tuesday sold shares in two firms -- Essar Ports and Essar Shipping -- in deals worth over Rs 33 crore. The shares were sold through open market transactions on the stock exchanges.

CLSA Mauritius sold 33.54 lakh shares (amounting to 0.78 per cent) of Essar Ports for an average price of Rs 83.84 apiece valuing the deal at Rs 28.12 crore, according to information available with the stock exchanges.

The foreign fund house also offloaded its entire stake of 1.28 per cent or 26.27 lakh stocks of Essar Shipping to Leman Diversified Fund. The shares were sold on an average price of Rs 21.25 aggregating to a deal size of Rs 5.58 crore, data showed.

As of December quarter, CLSA Mauritius held 52.54 lakh shares or 1.23 per cent holding in Essar Ports.

At the Bombay Stock Exchange (BSE), shares of Essar Ports rose 0.24 per cent to settle at Rs 85, while Essar Shipping scrips plunged by 6.46 per cent to close at Rs 21.