Godrej Industries Group's family office divests 4.4% stake in Sobha

Godrej Industries Group's family office arm Anamudi Real Estates LLP on Friday divested a 4.4 per cent stake in realty firm Sobha Ltd for Rs 858 crore via open market transactions.

According to the exchange data, Anamudi Real Estates LLP offloaded 47.37 lakh shares, amounting to a 4.43 per cent stake in Sobha Ltd.

Shares were disposed of at an average price of Rs 1,810.44 apiece, taking the transaction value to Rs 857.70 crore.

After the stake sale, Anamudi Real Estates' shareholding in Bengaluru-based Sobha declined to 5.57 per cent from 9.99 per cent.

Meanwhile, Mirae Asset Mutual Fund (MF), Invesco MF and Aditya Birla Sun Life MF acquired 23.09 lakh shares of Sobha.

Shares were acquired in the range of Rs 1,809.82-1,810.05 apiece, taking the combined transaction value to Rs 418.06 crore.

Details of other buyers could not be ascertained.

Sources said the Godrej Industries Group family office has sold shares in Sobha Ltd at a 10-times multiple of the original investments, inclu