Four companies of Bajaj Group have bought shares of Mukand Limited on Monday. Bajaj Group companies have made this purchase in the open market and under this companies have bought shares of Mukund worth Rs 353 crore. The four Bajaj Group companies that have bought shares of Mukand include Bajaj Sevashram Private Limited, Bachraj & Company Private Limited, Bachraj Factories Private Limited and Sanraj Nayan Investments Private Limited. Bajaj Sevashram has bought shares for Rs 94.42 crore, Bachraj & Co. for Rs 159.27 crore, Bachraj Factories for Rs 69.04 crore and Sanraj Nayan Investments for Rs 30.87 crore.
Shares bought at the price of Rs 153
The purchase of shares of Mukand by Bajaj Group companies has come from the block deal data available on the stock exchange NSE. These shares have been bought at an average price of Rs 153 and the companies that have bought the shares of Mukand are promoters of Mukand as per the shareholding pattern for the quarter of June 2021. In another transaction, some of Mukand’s promoters offloaded their shares at the rate of Rs 153 per share.
CCI approves purchase of shares
This transaction in the open market also had to get approval from the Competition Commission of India (CCI). Bajaj Group companies have increased their equity shareholding in Mukand, which has been approved by the CCI. Under this transaction, Mukand has increased its equity shareholding to 16.57 percent by four Bajaj Group companies, which also got the approval of the CCI. Earlier these companies had a 57.70 percent stake in Mukand. On Monday, the shares of Mukand fell 1.09 percent on the NSE and closed at Rs 149.85.
