<article> <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Redington+%28India%29+Ltd" target="_blank" rel="noopener noreferrer">Redington (India) Ltd</a> promoters, <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Kewalram+Chanrai+Group" target="_blank" rel="noopener noreferrer">Kewalram Chanrai Group</a>, have sold 5 per cent stake in the company for Rs 250 crore ($39 million) through a bulk deal on Thursday.</article>

<a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Redington+%28India%29+Ltd" target="_blank" rel="noopener noreferrer">Redington (India) Ltd</a> promoters, <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Kewalram+Chanrai+Group" target="_blank" rel="noopener noreferrer">Kewalram Chanrai Group</a>, have sold 5 per cent stake in the company for Rs 250 crore ($39 million) through a bulk deal on Thursday.
The promoter group conducted the deal through Harrow Investment Holding.
Norwegian sovereign wealth fund Government Pension Fund Global, Reliance mutual fund, and others bought the shares from the promoters.
Harrow Investment, earlier known as Redington Mauritius Ltd, owned 8.2 per cent stake in the Chennai-based IT products distributing firm Redington as of March 31, 2017. Post divestment, the promoter holds 3.2 per cent stake in the company.
Last year in June, the promoters <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/india-digest-redingtons-promoters-sells-5-stake-prism-cement-to-acquire-stake-in-bla-power-43340/" target="_blank" rel="noopener noreferrer">sold</a>  5 per cent stake in the company for Rs 219 crore ($32.7 million), in a bulk deal. Post that in October, Standard Chartered Private Equity (StanChart PE) increased its stake in Redington (India) to 15.41 per cent.
Redington commenced its operations in 1991 and is the largest supply chain solution provider. As a group, Redington is present in India, Middle East,Africa, Turkey, Srilanka, Bangladesh, Singapore and CIS countries.
The company provides end-to-end supply chain solutions for all categories of IT products (PCs, PC building blocks, networking, software and enterprise solution products) and consumer and lifestyle products (telecom, digital lifestyle products, entertainment products and digital printing machines). For the FY 17, Redinton&#8217;s net sales were Rs 41,114.6 crore, increased 16 per cent YoY, and net profit increased 12 per cent to Rs 475.6 crore.
Shares of Redington were trading at Rs 137.05, increased 1.30 per cent on BSE in a weak Mumbai market on Friday at 3.41 PM.
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Kewalram Chanrai Group has sold 5 per cent stake in the company for Rs 250 crore ($39 million) through a bulk deal on Thursday.

India: Redington promoters sell 5% stake more in supply chain firm for $39m

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India: Redington promoters sell 5% stake more in supply chain firm for $39m

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