Plutus Wealth sells 2% stake in Religare Enterprises for Rs 170 crore

Plutus Wealth Management LLP on Monday sold a 2 per cent stake in Religare Enterprises for Rs 170 crore through an open market transaction.

According to the bulk deal data available on the National Stock Exchange (NSE), Plutus Wealth Management LLP offloaded 71 lakh shares, amounting to a 2 per cent stake in diversified financial services group Religare Enterprises Ltd (REL).

The shares were disposed of at an average price of Rs 239.05 apiece, taking the transaction value to Rs 169.72 crore.

After the stake sale, Plutus Wealth Management's shareholding in REL has declined to 3.97 per cent from 6.07 per cent.

Meanwhile, Societe General picked up 50.50 lakh shares of REL at an average price of Rs 239 per piece.

This took the deal value to Rs 120.69 crore.

Details of the other buyers of REL's shares could not be ascertained.

Shares of Religare Enterprises surged 6.59 per cent to close at Rs 254.90 per piece on the NSE.

In a separate transaction on the BSE, three entities have offloaded shares of Nazara Technologies for Rs 157 crore through open market transactions.

Parijata Trading, Gyaana Retreat & Services, and Fashion Brands (India) disposed of 6 lakh shares each in Nazara Technologies.

The shares were sold at an average price of Rs 872 apiece, taking the deal size to Rs 156.96 crore.

Further, venture capital firm TIMF Holdings purchased 12 lakh shares of Nazara Technologies at the same price.

Details of the other buyers of Nazara Technologies' shares could not be identified.On Friday, scrip of Nazara Technologies rose 1.82 per cent to settle at Rs 884.80 apiece on the BSE.