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Three Murugappa Group cos divest stake in Parry Agro Industries

Our Bureau

Chennai , Dec. 14

THREE Murugappa group companies — Carborundum Universal Ltd, EID Parry (India) Ltd and Tube Investments of India Ltd — have divested their stake in another group company, Parry Agro Industries Ltd, to other entities belonging to the group.

In separate communications to the Bombay Stock Exchange, the companies said they sold their stake through the exchange on Wednesday.

Carborundum Universal, which had an 8.32 per cent stake in Parry Agro, got Rs 36.4 crore for its stake; EID Parry Rs 27.2 crore for its 6.25 per cent stake; and Tube Investments Rs 21 crore for its 4.83 per cent stake. Various companies and individuals belonging to the Murugappa group together hold 85.47 per cent of Parry Agro's equity.

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