Home Market Tamarind Capital sells shares worth Rs 577 crore of ICICI Lombard

Tamarind Capital sells shares worth Rs 577 crore of ICICI Lombard

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Global investment firm Tamarind Capital Tuesday sold around 72 lakh shares of ICICI Lombard General Insurance Company in open market transactions for Rs 577 crore.

According to the bulk deal data available with exchanges BSE and NSE, Tamarind Capital disposed of 72.11 lakh shares, amounting to 1.59 per cent stake of ICICI Lombard for a total consideration of Rs 576.93 crore.

On the BSE, the investment firm offloaded 45 lakh shares at Rs 800 apiece for a sum of Rs 360 crore.

It sold 27.11 lakh shares on the NSE at an average price of Rs 800.01 for a total amount of Rs 216.93 crore.

The buyer(s) of the shares could not be ascertained immediately.

ICICI Lombard stock jumped 2.08 per cent to settle at Rs 830.10 on the BSE, while on the NSE it rose 1.21 per cent to close at Rs 824.

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