L&T Mutual Fund sells 2.24% shares in Sobha

NEW DELHI: L&T Mutual Fund has sold 21,24,016 equity shares having 2.24% voting rights in Sobha, the company said in a BSE filing.

Before the sale, L&T Mutual Fund held 5.08% voting rights which has now reduced to 2.84%.

In a separate filing, Sobha said that all the offices and manufacturing units of the company will remain closed until May 3, 2020.

However, the company will review the situation and take appropriate decision depending on the relaxations if any, announced by the government," it said in the regulatory filing.

In the quarter ended March 31, 2020, Sobha had made sale of 9,05,710 sq ft worth Rs 684.5 crore.Bengaluru has contributed 73% of total sales volume during Q4-20 along with meaningful contribution from other regions.Gurugram sales volume have grown by 67% as compared to Q3-20. For FY 19-20, Bengaluru and Chennai sales volume have grown by 8% and 20% respectively as compared to FY 18-19, according to its BSE filing.

Source: https://realty.economictimes.indiatimes.com/news/industry/lt-mutual-fund-sells-2-24-shares-in-sobha/75182055

April 16, 2020

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