Based on the closing price of Rs 199.45 per share on BSE on the day of share sale, the transaction is estimated to be valued at over Rs 186 crore.
Prior to sale, GOS held 4.81 per cent stake, while MAS' stake stood at 2.10 per cent aggregating to a total of 6.91 per cent, as per the filing.
Last week, ZEEL had reported a consolidated net profit of Rs 29.28 crore for the first quarter ended June 30, 2020, as against a net profit of Rs 529.76 crore in April-June quarter a year ago.
Its total income during the quarter under review was Rs 1,338.41 crore. It was Rs 2,112.03 crore in the corresponding quarter last year. According to the company, the impact on earnings was primarily due to restrictions caused by COVID-19 on business activities.
Shares of ZEEL were trading 3.07 per cent higher at Rs 198.05 apiece on BSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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