Bollywood megastar Amitabh Bachchan has sold nearly 1 per cent of his stake in steel wires manufacturer DP Wires Ltd for Rs 2.48 crore through an open market transaction on the National Stock Exchange (NSE). The sale, executed on Tuesday, marks a partial exit from the Madhya Pradesh-based company.
Transaction Details
According to bulk deal data available on the NSE, Amitabh Harivansh Rai Bachchan offloaded 1,23,622 equity shares, representing 0.79 per cent of the company's total paid-up equity. The shares were sold at an average price of Rs 200.84 apiece, bringing the total transaction value to Rs 2.48 crore.
At the end of the March quarter, Bachchan held 2.11 per cent stake, equivalent to 3.27 lakh shares, in DP Wires. Following this sale, his remaining holding is estimated at around 1.32 per cent, or approximately 2.03 lakh shares.
Concurrent Purchase
In a related move, the veteran actor also purchased 41,566 shares of DP Wires at an average price of Rs 199.90 per share, amounting to Rs 83.09 lakh, as per the NSE data. This transaction suggests a strategic adjustment of his portfolio rather than a complete exit.
The identities of the other buyers of DP Wires' shares could not be ascertained from the exchange data.
Market Reaction
Shares of DP Wires rose 4.56 per cent on the NSE following the bulk deal, trading at Rs 213.03 apiece. The stock has been in focus due to the involvement of the high-profile investor.
DP Wires is a Madhya Pradesh-based manufacturer of steel wires catering to various industries including automotive, infrastructure, and agriculture. The company has a market capitalisation of over Rs 300 crore.
