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Harrow Investment sells 5% stake in Redington (India) for Rs250 crore

LiveMint logoLiveMint 06-07-2017 PTI

New Delhi: Redington (India) promoter Harrow Investment Holding on Thursday offloaded five per cent stake in the firm for Rs250 crore through an open market transaction.

According to the website of Redington (India), the firm has alliances with brands like Apple, Samsung, LG and Panasonic, among others.

Harrow Investment Holding sold 1.99 crore shares or 4.98% stake in Redington (India), as per the bulk deal data available with BSE.

The shares were disposed off at an average price of Rs125, valuing the transaction at Rs249.37 crore, as per the data.

As of March quarter, Harrow held 8.2% stake in Redington (India).

Among the buyers of the shares are Norges Bank on Account of the Government Pension Fund Global, which bought 1.19 crore shares, and Reliance Mutual Fund, which purchased 70 lakh shares of the firm.

Shares of Redington (India) ended 6.89% higher at Rs135.75 a piece on BSE on Thursday.

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