Inox Benefit Trust on Tuesday sold 4.32% stake in multiplex chain operator INOX Leisure for Rs101 crore, through open market transactions.
The block deal data available with BSE showed that Inox Benefit Trust sold 43.50 lakh shares or 4.32% stake in Inox Leisure. The shares were sold at an average price of ₹233, aggregating to ₹101.36 crore. Edelweiss advised Inox Benefit Trust on the stake sale.
Among buyers, Skale Masters Fund Ltd, Abu Dhabi Investment Authority and HDFC Mutual Fund bought 43,50,092 shares of Inox Leisure at ₹233 apiece.
Inox Leisure reported a consolidated net loss of 73.64 crore for the first quarter ended June 2020 against a profit of ₹27.01 crore for the same quarter last year. Revenue from operations declined 99.99% to ₹0.25 crore during the June quarter over ₹493.01 crore in the corresponding quarter a year ago.
On Tuesday, INOX Leisure closed at ₹235.60, up ₹5.50, or 2.39%, while the benchmark index, Sensex gained 0.59% to 38407.01 points.
