ICICI Prudential Life Insurance Company, a
leading private sector insurer, on Thursday, sold total 582,608 shares of
private shipbuilder ABG Shipyard through an open market transaction for Rs
15.79 crore at an average of Rs 271 per share.
According to the sources, the insurer sold half of the shares at Rs 271.01 per share on National Stock Exchange (NSE) and another half at Rs 271 per share on Bombay Stock Exchange (BSE).
At the end of the first quarter, the insurer held 6.91 lac shares of ABG Shipyard representing 1.36% stake in the company.
ABG Shipyard is one of the largest private sector shipbuilding companies in India. It is the flagship company of the ABG Group, and has so far built and delivered more than 160 ships for domestic and international customers.
Source: http://www.insuringindia.com
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