ICICI Prudential Discovery Fund has bought 18 lakh shares of Triveni Turbine through open market route. The shares were purchased on an average price of Rs 70 valuing the transaction to Rs 12.60 crore.
Triveni Turbine was demerged from Triveni Engineering and industries with effect from April 21, 2011. The company is a market leader in steam turbines up to 30 MW. TTL’s manufacturing facility is located in Bangalore with capacity to produce 80-100 steam turbines a year.