Indivest sells 1.94 crore shares of Adani Ports for Rs 290 crore

Indivest, an affiliate of Government of Singapore Investment Corporation, today offloaded 1.94 crore shares of Adani Ports & Special Economic Zone for over Rs 290 crore.
     
According to information available with the stock exchanges, Indivest Pte Ltd sold 1.94 crore shares, amounting to 0.96 per cent stake, of Adani Ports through market transaction.
     
The shares were sold on an average price of Rs 150 valuing the transaction to Rs 290.62 crore, the data showed.
     
As of the January-March quarter, Indivest held 3.55 crore shares, equivalent to 1.78 per cent stake in Adani Ports.
     
Adani Ports, on June 5, complied with the market regulator Sebi's 25 per cent public shareholding norm by diluting its promoter's 3.33 per cent stake through institutional placement programme (IPP).
     
Earlier, the Securities and Exchange Board of India (Sebi) had passed order against promoters of 105 companies including Adani Ports that failed to achieve a 25 per cent public holding by June 3.
     
Shares in Adani Ports declined by 0.43 per cent to close at Rs 152 apiece on the BSE.