JSW Ispat Steel’s ten promoter group companies have offloaded their 6.38% stake in the company. The promoter entities have sold over 160 million shares through both off and on market transactions for Rs 174.47 crore.
The promoter group companies which have reduced their stake are Ispat Steel Holdings, Kartik Credit, Navoday Consultants, Navoday Highrise, Navoday Niketan, Ushaditya Trading, Goldline Tracom, Mita Holdings, Navadisha Real Estate and Denro Holdings.
All the aforementioned firms belong to Pramod and Vinod Mittal or their families, which held less than 20% stake in JSW Ispat before these transactions. JSW Ispat has two major promoters -- JSW Steel with 46.75% stake and firms belonging to Pramod and Vinod Mittal or their families.
