New Delhi: India's top leading tyres & tube making com CEAT sold its additional 3.54% stake worth Rs 185 crore to an investment arm of private equity firm, Jwalamukhi Investment.

As of December quarter, Jwalamukhi Investment held 4.5 per cent stake in Ceat, while Kotak Mahindra owned 3.54 per cent holding in the tyre company. 

The shares were bought from Kotak Mahindra(International) Ltd, which has exited the company through the open market transaction. 

According to bulk deal data available with the BSE, Jwalamukhi Investment picked up 14,32,897 shares, amounting to 3.54 per cent stake, of CEAT.

The scrips were purchased at an average price of Rs 1,290.35, valuing the transaction at Rs 184.89 crore. 

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