HSBC Global Investment sells 50 lakh shares of Eveready Industries

HSBC Global Investment Funds has sold 50 lakh shares of Eveready Industries India through open market transactions. HSBC Global Investment A/C Indian Equity Fund has sold the share for Rs 20.62 a piece valuing the transaction for a little over Rs 10 crore.

As of June quarter, HSBC Global Investment Funds (Mauritius) held 5.57% stake in the company. Simultaneously, Sharad Shah purchased 50 lakh shares of Eveready Industries for Rs 10.04 crore.

Eveready Industries offers a basket of FMCG products including rechargeable batteries, rechargeable lanterns, CFL & GLS lamps and packet tea and markets them through its most extensive distribution networks.