MUMBAI: Reliance Industries on Thursday said that its subsidiary, Siddhant Commercials, had sold 3.5 crore equity shares of Asian Paints on the NSE at a price of Rs 2,201 per share. The entire block of Asian Paints stock, representing 3.6 per cent of the company’s equity, was purchased by SBI Mutual Fund, as revealed by a large deal disclosure on the NSE website. The block was sold for nearly Rs 7,704 crore.RIL still holds 87 lakh Asian Paints shares, as stated in disclosures to the exchanges. According to Asian Paints’ shareholding pattern as of March 31, 2025, Siddhant Commercials was holding nearly 4.7 crore shares of the paints major, representing 4.9 per cent of the equity.In Thursday’s weak market, RIL’s stock price closed 0.6 per cent lower, while Asian Paints shares closed 0.4 per cent up. It was earlier reported that RIL bought the stake in the paints major in 2008 for about Rs 500 crore.As of March 2025, the promoters held a 52.6 per cent stake in Asian Paints, while domestic institutions held nearly 15.6 per cent and foreign institutions 12.2 per cent. Among the institutions, LIC held the biggest stake in the company, at 8.3 per cent. Two mutual funds – SBI MF at 1.5 per cent and ICICI Prudential MF at 1.2 per cent – also held small chunks in the company, as shown in disclosures on BSE. Retail investors held 11.8 per cent in the company.