Emami stocks jump 15% after promoters sell 10% stakes to cut debts
The Emami Group`s promoters on Monday had sold their 10 per cent stake in its flagship Emami Limited, raising about Rs 1,600 crore to reduce debts. After the sale, the promoters` holding in the company stood at 62.74 per cent.
The transaction was executed on the stock exchange on Monday and purchasers included SBI Mutual Fund, PremjiInvest, Amundi, IDFC, L&T Mutual Fund and Pioneer Investment. PTI