Amalfiaco and MacRitchie, which together held 34.36 per cent stake in the company as per the shareholding data at the end of September 2019, sold around 24 per cent of their holding in the company.
The shares were picked up at the same price by a host of fund houses and insurance companies, including SBI Mutual Fund, Fidelity India Fund, HDFC Standard Life Insurance Co Ltd and Morgan Stanley Asia Singapore Pte, among others, the data showed.
In April 2015, Gautam Thapar's Avantha Group sold its entire holding of 34.37 per cent in the demerged consumer products business of Crompton Greaves to Advent International and Temasek for Rs 2,000 crore.
Shares of Crompton Greaves on Tuesday ended at Rs 246.2 on the BSE, 2.19 per cent lower than the previous close.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.