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Madhuri Madhusudan Kela enters Greenlam Industries

Our Bureau Chennai | Updated on August 04, 2020 Published on August 04, 2020

Sumir Chadha's Westbridge Capital exits; Jwalamukhi cuts majority stake

Shares of Greenlam industries jumped 11.3 per cent on Tuesday, as Madhuri Madhusudan Kela, wife of Madhusudan Kela, former chief investment strategist at Reliance Capital, acquired 1.52 lakh shares through the bulk deal window on the BSE. The shares were acquired at an average cost of ₹585. After hitting a high of ₹754.40 in intra-day deals, Greenlam closed at ₹735.90 on the BSE against the previous day’s close of ₹661.30.

Sumir Chadha's Westbridge Capital through WestBridge Crossover Fund has exited from Greenlam by selling around 19.01 lakh shares or 7.88 per cent. Jwalamukhi Investment Holdings, arm of Westbridge Capital, also sold 2.15 lakh shares. Currently, Jwalamukhi holds 3.46 lakh shares or 1.43 per cent stake in Greenlam.

The other buyers are Winro Commercial (India) 2.75 lakh shares and Blue Diamond Properties Private Ltd 16.88 lakh shares. Winro Commercial, listed company on the BSE, closed 4.98 per cent higher at ₹244.45.

Greenlam Industries had posted a loss of ₹5.72 crore on revenues of ₹148.32 crore for the first quarter ended June 2020.

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Published on August 04, 2020
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