Sundram Fasteners’s promoters sell Rs 434 crore shares

Suresh Krishna, chairman of Sundram Fasteners, along with his wife and daughters Arathi and Arundhati, sold shares worth Rs 434 crore to institutional investors. They sold 1.6% of Sundram Fasteners to buy out daughter Preethi’s stake in TVS Sundram Fasteners. Preethi, who is less involved in the family business, aims to reduce her exposure.