Life Insurance

Blackstone sells stake in 63 Moons Tech, LIC trims holding in Raymond



Blackstone has sold its stake in 63 Moons Technologies Ltd for about Rs 9-10 crore while LIC has trimmed its holding in Raymond Ltd by 2.01 per cent.

Blackstone sells stake in 63 Moons Technologies

PE giant Blackstone has sold its stake in 63 Moons Technologies Ltd through open market transactions.

The PE firm sold its stake in tranches and on Friday, it sold shares worth Rs 7.6 crore. The buyer for the stake was not disclosed. In total, it managed to pocket around Rs 9-10 crore with a huge haircut of up to 90 per cent.

Blackstone now holds 4.5 per cent stake in the company. It originally invested Rs 250 crore in 63 Moons Technologies in 2012.

63 Moons Technologies’ scrip last traded at Rs 72.75 each, down 4.59 per cent on BSE in a strong Mumbai market on Friday.

LIC trims stake in Raymond by 2%

State-owned Life Insurance Corporation (LIC) has sold 2.01 per cent of its stake in textile and apparel major Raymond Ltd through open market.

LIC sold its stake between 11 October 2016 to 4 September 2017, according to a BSE filing. Post divestment, it holds 3.51 per cent stake in Raymond.

Shares of Raymond last exchanged hands at Rs 884.5 per share, down 1 per cent on BSE in a strong Mumbai market on Friday.

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