Real estate player Sobha’s shares will be in focus tomorrow as a large block deal worth $100 million is likely to take place, CNBC-TV18 reported quoting sources. Sobha’s investor Anamudu Real Estates LLP is planning to sell 5% of its 9.9% stake in the company via a block deal tomorrow, the CNBC-TV18 report said.
Block deal in Sobha will be executed at a 6% discount to the current market price (CMP) of the stock. Sobha shares closed today at Rs 1,862.45 on the NSE.
Anamudi Real Estates LLP, wholly owned by the Godrej Family, will be subject to a 90-day lock-up period on further sales following this transaction. Kotak Securities is the sole banker for the block deal.
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Sobha