Promoter entities of Bajaj Consumer Care have sold 6.85 per cent stake in the FMCG firm for about Rs 320 crore through an open market transaction.
Bajaj Resources Ltd, KNB Enterprises LLP and SKB Roop Commercial LLP sold 1.01 crore shares, or 6.85 per cent stake, in Bajaj Consumer Care on Tuesday, according to a regulatory filing.
After the share sale, the promoters' stake in the company stands at 59.91 per cent.
Based on the weighted average price of Bajaj Consumer Care's stock on Tuesday at Rs 316.70 apiece, the transaction is estimated to be valued at Rs 319.86 crore.
Bajaj Consumer Care Ltd was earlier known as Bajaj Corp Ltd, and its popular products in the hair oil segment include Bajaj Almond Drops, Bajaj Kailash Parbat and Bajaj Brahmi Amla.