Shankara Building MD offloads co's shares for over Rs 75 crore

Shankara Building Products Ltd's Managing Director Sukumar Srinivas on Monday offloaded over 10 lakh shares of the company for Rs 75 crore through an open market transaction.

According to the block deal data on NSE, he sold 10 lakh shares at an average price of Rs 755 apiece. This took the total deal value to Rs 75.50 crore.

Srinivas, a promoter of the company, held 1.25 crore shares or 55.05 per cent stake in the firm at the end of December 2021.

Separately, APL Apollo Mart bought 10 lakh shares of Shankara Building at the same price.

On NSE, shares of Shankara Building ended 10.09 per cent higher at Rs 823.50 apiece.