Citigroup sells L&T Finance shares worth Rs 637 cr

A Citigroup office is seen at Canary Wharf in London. Photo: Reuters
Citigroup today offloaded more than 3.5 crore shares of L&T Finance Holdings, financial services arm of the engineering major L&T, for a little over Rs 637 crore through an open market transaction.

However, the buyer (s) of the shares could not be ascertained immediately.

According to bulk deal data available with the NSE, Citigroup Global Markets Mauritius Pvt Ltd sold a total of 3,51,03,103 shares, amounting to 1.92 per cent stake, of L&T Finance.

The scrips were offloaded on an average price of Rs 181.51, valuing the transaction at Rs 637.15 crore.

As of September quarter, Citigroup held over 10.04 crore shares or 5.51 per cent stake in the company.

In a separate bulk deal on the exchange, Gaja Capital and GPE India together sold over 8.1 lakh shares of staffing firm Teamlease for about Rs 153 crore.

Meanwhile, T Rowe Price International and International Discovery Fund purchased over 8.36 lakh shares of Temalease at Rs 1,885 apiece translating into a transaction size of nearly Rs 158 crore.

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