Singapore Government sold its 2.9% stake in Phoenix Mills a retail-led mixed-use developers for Rs 670 Crs through an open market transaction. Following the deal shares of Phoenix Mills declined 3.33 per cent to settle at Rs 1,296 apiece.
In a bulk deal data transaction on NSE the Singapore Government offloaded more than 51.49 lakh shares amounting to a 2.88 per cent stake in the firm. The shares were sold at an average price of Rs 1,300. 15 apiece taking the transaction value to Rs 669.54 Crs.
However, the sellers of the shares could not be ascertained. The Singapore Government-owned a 4.28 per cent stake in the company as of the December quarter.