$4 co-founders $4 and $4, and some of Shibulal's family members today sold 7.5 million $4 of the company for Rs 862 Crores on exchanges.
The sale was executed by Citigroup Global Markets India Private Limited as the sole broker for the sale of shares. The sale of shares was executed at an average price of Rs 1,149.45 across all sellers, they said in a joint statement here.
The sale has been done to partially monetize their stake, having nurtured the company for more than three decades, for personal reasons including for the betterment of the society through various philanthropic activities, the statement said.
According to the statement, $4 sold 5,000,000 shares and Shibulal and his family 2,500,000 shares.
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