Radhakishan Damani trims stake in Trent

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NEW DELHI: Ace investor Radhakishan Damani, promoter of Avenue Supermarts, and individuals appearing in live performance (PACs), have trimmed stake in Tata group‘s retail arm Trent by promoting over 28.22 lakh shares within the open marketplace for an estimated sum of over Rs 202 crore.

As per regulatory submitting, Radhakishan Damani, Kirandevi G Damani, Jyoti Kabra, Vibrant Star Investments Pvt Ltd, Damani Estates and Finance Pvt Ltd, Derive Investments and Derive Buying and selling and Resorts Pvt Ltd, bought 28,22,516 shares within the open market.

The shares had been bought on November 27, 2020, and, based mostly on the weighted common worth of the inventory at Rs 717.92 apiece, the transaction is estimated at Rs 202.63 crore.

Radhakishan Damani and individuals appearing in live performance, held 3.87 per cent stake in Trent earlier. It has now come down to three.08 per cent.

Final month, Trent had reported a consolidated internet lack of Rs 78.56 crore and income from operations stood at Rs 585.37 crore for the second quarter ended September 30, 2020.

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