Promoters of VRL Logistics on Wednesday sold a 5.4% stake in the company for more than Rs 273 crore in an open market deal.

Vijay Basavanneppa Sankeshwar sold 47.92 lakh shares, equivalent to a 5.4% stake in the company, according to block trade data provided by the National Stock Exchange (NSE).

The shares were sold at an average price of Rs 570 each, bringing the transaction value to Rs 273.14 crore. After the latest deal, Vijay Sankeshwar’s stake in the company will drop from 33.72% to 28.32%.

ICICI Prudential Mutual Fund (MF), Quant MF and Max Life Insurance Company bought 18.19 lakh shares in the company on Wednesday.

Shares of VRL Logistics closed 0.26% at Rs 574 per share on the NSE. In another deal, CDC Group Plc sold 76.04 lakh shares in Equitas Holdings for Rs 95 crore in an open market deal.

CDC Group sold 76,04,280 shares, representing a 2.22% stake in the company, according to block trade data provided by the NSE.

The shares were sold at an average price of Rs 125.04 each, bringing the deal’s total value to Rs 95.08 crore. However, the purchaser of the shares could not be identified.

According to exchange holding data, CDC Group Plc held a 2.72% stake in the company in the quarter that ended in September.