LIC MF, 2 others buy Manorama Industries shares for Rs 200 crore

LIC Mutual Fund (MF), Aditya Birla Sun Life MF and Bank of India MF on Tuesday bought shares of Manorama Industries for Rs 200 crore through open market transactions. According to the block deal data available on the BSE, LIC Mutual Fund (MF), Aditya Birla Sun Life MF and Bank of India MF purchased 18.18 lakh shares, amounting to a 3.05 per cent stake in Manorama Industries.

The shares were acquired at an average price of Rs 1,100 apiece, taking the combined deal value to Rs 200 crore.

Meanwhile, the three promoters of Manorama Industries -- Agastya Saraf, Vinita Ashish Saraf and Shrey Ashish Saraf -- sold their shares in the company.

Additionally, a public shareholder Ritu Saraf also divested its holding in Raipur-based Manorama Industries at the same price.

Shares of Manorama Industries fell 2.60 per cent to close at Rs 1,090.20 per piece on the BSE.