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SUMMARY
From Zomato to Ambuja Cements and PNB Housing, multiple stocks contributed to the block deals worth ₹20,000 crore that took place this week.
1 / 6Just a week after earnings for the June quarter concluded, block deals and stake sales are back and how! Just this week saw deals worth ₹20,000 crore take place on Dalal Street with most of them taking place over Thursday and Friday. And there are more in the pipeline too! Lets go through some of them:
2 / 6Some of the important deals that took place on Friday include Ambuja Cements, where the promoter entity is likely to have sold 2.8% stake worth over ₹4,000 crore. Tata Technologies also saw a large trade worth over ₹1,000 crore take place in the second half of Friday’s trading session. Nykaa ended the session with strong gains after existing pre-IPO investors are likely to have pared stake valued at close to ₹800 crore. GMR Airports too saw shares worth ₹500 crore change hands on Friday.
3 / 6Kalyan Jewellers was one stock that was in focus on Thursday after a major block took place. It is a clean out trade from a Warburg Pincus entity with the stake being bought by marquee funds and even the promoters will be increasing their stake. PNB Housing saw two deals take place this week, one being where Asia Opportunities V (Mauritius) sold a 3.1% stake in a deal valued at over ₹1,000 crore.
4 / 6A significant part of Eris Life’s equity changed hands in a large trade on Thursday where Chrys Capital was the seller, making a complete exit from the stock. The trend of promoter stake sales was also taken forward by Alkem Laboratories, where promoter entity was classified as the seller.
5 / 6The other deal that took place in PNB Housing was on Wednesday where General Atlantic made a complete exit in a transaction valued at over ₹1,116 crore. Zomato has been in the news through this month with its share price performance, acquisitions and results. A block took place here as well with AntFin Singapore selling stake in an upsized deal, valued at well over ₹5,000 crore.
6 / 6And there are more to come. Dealing rooms indicate that there are more companies lining up block deals where promoters, PE funds would look to cash out or book profits considering the rally seen in the equity markets.
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