Arisaig India Fund has cut 2.8 per cent stake in Kishore Biyani-led Future Enterprises by selling shares in the open market.
Arisaig India Fund Ltd, which had 5.88 per cent stake earlier, brought down its shareholding in the company to 3.09 per cent by selling shares on October 27, Future Enterprises Ltd said in a BSE filing.
The company offloaded 1.20 crore shares, or 2.78 per cent stake, on October 27. Based on the weighted average price of the stock at Rs 16.33 per scrip on October 27, the transaction is valued at Rs 19.63 crore.
Shares of Future Enterprises were trading lower by 2.05 per cent at Rs 16.75 apiece on the BSE.