Nalanda Capital Trims its 1.4% stake in Great Eastern Shipping for Rs 190 crore

21 May 2024

Investment firm Nalanda Capital on Monday sold a 1.4 percent stake in Great Eastern Shipping Company Ltd. for Rs 190 crore through an open market transaction. Singapore-based Nalanda Capital, through its arm Nalanda India Equity Fund Ltd., sold shares of Great Eastern Shipping Company Ltd. through a bulk deal on BSE.

According to the information, Nalanda India Equity Fund sold 20 lakh shares, equivalent to a 1.4 percent stake in Mumbai-based Great Eastern Shipping Co. Ltd. The shares were settled for an average price of Rs 950.25, bringing the transaction value to Rs 190.05 crore.

After the stake sale, Nalanda Capital's stake in GE Shipping has come down to 5.97 percent from 7.37 percent. Meanwhile, Ghisallo Master Fund LP acquired 19.58 lakh shares at an average price of Rs 950 per piece, according to BSE data. This brought the total deal value to Rs 186.03 crore. The shares of Great Eastern Shipping Company closed 0.66 percent higher at Rs 998.45 on the BSE.