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Japan-based Sumitomo Corporation, promoters of Punjab-based bus and truck maker, SML Isuzu, has offloaded 11 per cent stake in the company.
It has sold the stake to another existing shareholder from Japan, Isuzu Motors, taking the latter's stake up to 15 per cent from 4 per cent. Post the transaction, Sumitomo's equity stake in the paid-up capital of the automaker has reduced to 43.96 per cent.
SML Isuzu shares at the BSE were up 3.76 per cent to Rs 397 on Friday.
The company has a technical assistance agreement for its products with Isuzu, Japan.
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