Mumbai : Orient Bell Ltd’s promoter, Orient Bell Holding Trust, sold its entire 14.65% stake in the company for 437 mn rupees to multiple investors, the company said in a notice to the exchanges on Friday. Post the share sale, total promoter stake in Orient Bell stands at 57.6% as against 72.28% as of Mar 31.
Orient Bell Holdings Trust held the shares in the company under an earlier scheme of merger between Bell Ceramics Ltd and Orient Ceramics and Industries Ltd, report Cogencis. The company plans to use proceeds from the stake sale for increasing manufacturing capacity and building its brand.
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