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Jwalamukhi Investment buys 3.54% stake in Ceat for Rs 185 cr

Jwalamukhi Investment Holdings, an investment arm of private equity firm Westbridge Capital, today bought additional 3.54 per cent stake in tyre maker Ceat for Rs 185 crore.

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Jwalamukhi Investment Holdings, an investment arm of private equity firm Westbridge Capital, today bought additional 3.54 per cent stake in tyre maker Ceat for Rs 185 crore.

The shares were bought from Kotak Mahindra (International) Ltd, which has exited the company through the open market transaction.

According to bulk deal data available with the BSE, Jwalamukhi Investment picked up 14,32,897 shares, amounting to 3.54 per cent stake, of Ceat.

The scrips were purchased on an average price of Rs 1,290.35, valuing the transaction at Rs 184.89 crore.

As of December quarter, Jwalamukhi Investment held 4.5 per cent stake in Ceat, while Kotak Mahindra owned 3.54 per cent holding in the tyre company.

The Ceat stock settled at Rs 1,288.45 on BSE, up 0.04 per cent from the previous close. In the intra-day trade, the scrip had touched a high of Rs 1,301.75 and a low of Rs 1,260.50.

 

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)

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