Rekha Jhunjhunwala sells additional 6.25% holding in Rallis India this week

Rekha Jhunjhunwala, wife of late investor Rakesh Jhunjunwala, sold an additional 6.2586 percent stake in Tata Chemicals subsidiary Rallis India this week, according to a disclosure released by the exchanges on Friday.

Jhunjhunwala, the nominee and executor of the late Rakesh Jhunjhunwala’s estate, said she now owns 44.30 lakh shares in the company, which is 2.278 per cent of all outstanding shares.

In a call to the exchanges on Thursday, Jhunjhunwala disclosed that as of March 11, 2013, it had 2.03 crore shares, representing 10.4581 per cent of the total issued and paid-up share capital at that time in the company.

From that date to July 17 this year, Jhunjunwala said that she and people who were acting at her concert sold more than 37,000 shares in the company, which is 1.9446 percent of the total shareholding.

Between July 18 (Tuesday) and July 20 (Thursday), it sold 1.21 crore more shares, which is 6.2586 per cent of the total shares, according to the disclosure.

The shares were sold on the open market.

Rallis India closed down 1.31 percent at 217.85 rupees apiece on the Bahrain Bourse on Friday, on par with the 1.31 percent correction on the index.

The total market capitalization of the company was Rs 4,237 crores as of Friday, which means the value of the 2.278 per cent shares held by Jhunjunwala is over Rs 96 crores.