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SBI Mutual Fund buys 43 lakh Elgi shares for Rs 39 cr

SBI Mutual Fund acquired 43 lakh shares of air compressor manufacturer Elgi Equipments for about Rs 39 crore through open market transactions.

SBI Mutual Fund on Tuesday acquired 43 lakh shares of air compressor manufacturer Elgi Equipments for about Rs 39 crore through open market transactions.

As per the bulk deal information available with the stock exchanges, SBI Mutual Fund A/C Emerging Fund purchased nearly 22.5 lakh shares of Elgi Equipments on the National Stock Exchange (NSE), while it bought 20.5 lakh shares of the company on the BSE.

The shares were purchased at an average price of Rs 90 apiece aggregating a total of Rs 38.7 crore.

In a separate bulk deal, Amansa Holdings offloaded a total of 27.92 lakh shares of Elgi Equipments on the stock exchanges for Rs 25.13 crore.

Amansa sold 16 lakh shares and 11.92 lakh scrips of the company on the NSE and BSE respectively.

As on quarter ending June, Amansa Capital held about 28 lakh shares of Elgi Equipments representing 1.76 per cent stake in the company.

Elgi Equipments is manufacturer of air compressors and automobile service station equipment.

Shares of Elgi Equipments rose 3.39 per cent to settle at Rs 90 apiece, on the BSE.