After the share sale, the promoters' stake in the company stands at 59.91 per cent

The company has also approved reappointment of independent directors D J Balaji Rao, Nanoo Pamnani and Gita Piramal for a second term of five years.

The 30-share BSE index ended 216.51 points, or 0.58 per cent, higher at 37,752.17. The broader NSE Nifty closed with gains of 40.50 points, or 0.36 per cent, at 11,341.70. In the Sensex pack, IndusInd Bank rallied 4.15 per cent.

Bharti Airtel (5.12%), IndusInd Bank (3.69%) and ICICI Bank (3.27%) were the top Sensex gainers.

Tata Motors was the biggest loser in the Sensex pack, tumbling 3.99 per cent, followed by HCL Tech, Tata Steel, Vedanta, Infosys, ONGC, Asian Paints, Maruti and L&T that shed up to 2.53 per cent.

Of 30 Sensex stocks, 17 closed in the green. Tata Motors (2.27%), Axis Bank (1.78%), Hindustan Unilever (1.46%) were the top Sensex losers.