Kirloskar Oil Engines Ltd's promoters on Wednesday sold 17.7% stake for ₹8.25 bln, as per the company's exchange filing.
Jyotsna Gautam Kulkarni, Nihal Gautam Kulkarni and Ambar Gautam Kulkarni offloaded over 25.6 mln shares through block deals on the National Stock Exchange at ₹322 per share.
A number of other participants purchased shares of the company on the same day at a price of 322, including important institutional investors including Birla Sunlife Insurance, Aurigin Master Fund, DSP Mutual Fund, and Franklin Templeton Mutual Fund.
The Kulkarni family announced their plans to depart from Kirloskar Group in February.
The shares of the company were down 0.23% at ₹389.15 on NSE at 12:42 p.m IST.
