Asian Paints shares came under the spotlight on Wednesday following a large block deal valued at ₹7,704 crore, involving 3.5 crore shares, or 3.6% equity of the company. The transaction was executed via the block deal window and accounted for one of the largest trades of the day on the exchanges.
According to reports, Reliance Industries is likely the seller in this deal, offloading a significant portion of its holding in Asian Paints. Market sources suggest that Reliance was looking to monetise its stake in the paints major, although official clarification from the company is awaited.
Details regarding the buyer(s) involved in the transaction are yet to be disclosed, and regulatory filings are expected to provide further clarity.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should consult certified financial advisors before making any investment decisions.
