Credit Suisse First Boston (Singapore) has reportedly sold 40.30 lakh shares or 0.60% stake of Shree Renuka Sugars through the open market route. The shares were sold on an average price of Rs 22.79 valuing the transaction to Rs 9.19 crore.
Meanwhile, BNP Paribas Arbitrage has also offloaded 35.50 lakh shares or 0.52% stake of Shree Renuka Sugars through the open market route. The shares were sold on an average price of Rs 22.44 valuing the transaction to Rs 7.97 crore.
Shree Renuka Sugars is one of the largest private sector sugar manufacturers in the country, promoted by first generation entrepreneurs, viz. Murkumbi family, with a combined crushing capacity of about 35,000 TCD (across seven units) in India and 59,520 TCD (across four units) in Brazil.
