SBI Mutual Fund (MF) has reduced its stake by 3 per cent in Vijay Mallya-led McDowell Holdings to 5.77 per cent. The fund house has sold 4.22 lakh shares of the company on July 8 and based on the closing stock price of Rs 33.75, the transaction is estimated to have been valued at Rs 1.41 crore.
SBI Mutual Fund, which had 8.77 per cent earlier, brought down its shareholding in the company to 5.77 per cent.