Arisaig India Fund sells 0.54% stake in Marico for Rs 172 crore

Arisaig India Fund has reduced its stake in FMCG firm Marico by 0.54% by selling 70 lakh shares for Rs 171.84 crore through an open market transaction.

As per its filing in BSE, on March 17, Arisaig India Fund sold 70 lakh shares representing 0.54% in Marico.

Based on the weighted average price of the stock on March 17, at Rs 245.49 per share, Arisaig India Fund's stake sale would be for Rs 171.84 crore.

The fund now holds 3.51 crore shares representing 2.73% in Marico as against its previous holding of 3.27%.

Shares of Marico Ltd were trading 0.30% lower at Rs 246.45 apiece on BSE.