Billionaire investor Rakesh Jhunjhunwala has reduced his stake in The Mandhana Retail Ventures Limited and sold 98,094 shares of the company, or 0.44% of his total stake in the company. According to the latest Mandhana Retail Ventures ownership pattern available on the BSE website, Rakesh Jhunjhunwala had a 12.74% stake in The Mandhana Retail Ventures at the end of June this year. Mandhana Retail Ventures’ share price is up 20.83% so far this year. Most of these increases were observed in the first six months of the year; stocks fell after that.
“I would like to inform you that on September 16, 2021 I had 23,78,871 shares (10.7726%) of The Mandhana Retail Ventures Limited,” Rakesh Jhunjhunwala said in a letter to the company secretary of Mandhana Retail. “Since the last disclosure until September 16, 2021, I have reduced the holdings by 4.34,403 shares, which is equivalent to 1.96% of the total paid-in capital issued of The Mandhana Retail Ventures Limited,” he added. The big bull added that he sold an additional 98,094 shares of The Mandhana Retail Ventures between September 17-20 this year.
The most recent sale, along with the previous one, helped Rakesh Jhunjhunwala reduce his stake in the company to 22,80,777 shares, representing 10.3284% of the total issued and paid-up capital of The Mandhana Retail Ventures. Mandhana Retail Ventures’ share price rose 1.03% on Monday, ending at Rs 14.75 per share 4,444 Between the end of December 2020 and the end of June 2021, Rakesh Jhunjhunwala’s stake in the company remained unchanged at 12.74% to 28.13,274 shares. During that time, the company’s shares rose 56%, helping the ace investor make at least Rs 200 crore in profit. Often known as the great bull of national equity markets, Rakesh Jhunjhunwala is known for spotting multibaggers and holding those stocks for years to earn massive returns.