Piramal Natural, 2 others exit Archean Chemical Industries, sell 10% stake

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Piramal Natural, 2 others exit Archean Chemical Industries, sell 10% stake - Business Standard

Quick Summary:

India Resurgence Fund - Scheme 1 & 2, affiliates of India Resurgence Fund (IndiaRF), sold shares of the speciality marine chemical manufacturer Archean Chemical Industries through separate bulk deals on the BSE.

Piramal Natural Resources also offloaded shares of Archean Chemical on the exchange.Nearly 1.25 crore shares or 10.13 per cent stake of Chennai-based Archean Chemical Industries changed hands on the bourse.

Piramal Natural Resources and two other entities on Thursday exited Archean Chemical Industries by selling their entire 10 per cent shareholding for Rs 822 crore through open market transactions.