Citigroup part-exits Havells for $26.6M

Citigroup Global Markets on Thursday sold a third of its stake in electrical equipment firm Havells India for Rs 178.14 crore ($26.6 million).

The firm offloaded 61 lakh shares, or 0.97 per cent stake, of Havells for an average price of Rs 292.03 apiece, according to data available with the National Stock Exchange. 

Citigroup held 1.87 crore shares, or a three per cent stake, in Havells as of September 30.

It wasn’t immediately known who purchased the shares.

Shares of Havells rose 4 per cent to Rs 300.70 apiece on the NSE on Thursday.