Anil Ambani Group firms -- Reliance Capital Asset Management and Reliance Capital Trustee Company -- on Wednesday bought 17.40 lakh shares in retail chain Shoppers Stop for over Rs. 51 crore through open market transactions.
Reliance Capital Asset Management purchased 10 lakh shares in Shoppers Stop, while Reliance Capital Trustee Company bought 7,40,500 shares of the retail entity, according to bulk data available with stock exchanges.
The shares were purchased at Rs. 295 apiece, valuing the deal to Rs. 51.34 crore.
Meanwhile, Smallcap World Fund, a shareholder of Shoppers Stop, sold 19,85,925 equities of the company for Rs. 295 apiece, translating into a deal worth Rs. 58.6 crore.
As of March quarter, Reliance Capital Trustee held 24.91 lakh shares or 3.02% stake in the retail firm, while Smallcap World Fund held 23.40 lakh shares or 2.83% holding in Shoppers Stop.
Shares of Shoppers Stop surged by 7.25% to close at Rs. 318.85 apiece on the BSE.