Standard Chartered Private Equity (Mauritius) and Merlion India III have exited from ABG Shipyard by selling their entire 7.078% stake in the firm through open market transactions.
In a notice to the Bombay Stock Exchange (BSE), ABG Shipyard said the two firms had sold 3.6 million shares in it within a span of five days from 24 June 2011.
Meanwhile, in a separate filing, ABG Shipyard said KBS Trading had increased its stake in the ABG Group flagship by 3.93% to 6.65% on 28 June 2011.
KBS Trading has bought 2 million fresh shares through open market transactions.
ABG International has also hiked its holding in ABG Shipyard by 0.80% and it currently stand at 60.93%.
Source: Moneylife