UK's Genesis Asset sells 2% stake in Ambuja Cement for Rs 646 crore

Genesis Asset Managers' holding in Ambuja Cement comes down to 3.38 percent from 5.39 percent

FP Archives|Sep 04, 2015, 12:37:11 IST

New Delhi: UK-based investment management firm Genesis Asset Managers LLP has sold 2.01 percent stake in Ambuja Cement by offloading 3.07 crore shares for over Rs 646 crore in open market.Genesis Asset Managers LLP, which held 5.39 percent stake earlier, brought down its shareholding in the company to 3.38 percent by selling shares on September 2, Ambuja Cement said in a filing to the BSE.[caption id="attachment_2421020" align="alignleft" width="380"] Reuters[/caption]Based on the closing price of the stock on September 2, at Rs 210.45 apiece, the transaction is estimated to have been valued at Rs 646.96 crore.Shares of Ambuja Cement were trading at Rs 211.40 apiece on the BSE, down 3.36 percent from previous close.PTI

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