Share prices of Coromandel International and EID Parry shed 5 percent and 3 percent respectively after the later sold its stake in Coromandel.
EID Parry has sold 58,50,000 equity shares of Re 1 each held in Coromandel International in the open market at a price of Rs 629.1910 per share.
Post the sale, the company holds 17,13,05,580 shares representing 58.48 percent of the paid-up capital of Coromandel.
The proceeds of the sale will be used to bring down the debt of the EID.
At 14:12 hrs, Coromandel International was quoting at Rs 643.80, down Rs 7.45, or 1.14 percent and EID Parry (India) was quoting at Rs 213.15, down Rs 3.15, or 1.46 percent on the BSE.
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