Shares of Sobha Limited dropped by more than 3% on June 26 after a significant block deal involving 47.4 lakh shares, equivalent to 5% of the company’s equity. The transaction was valued at approximately Rs 865 crore, executed at an average price of Rs 1,825 per share, which is a 2% discount from the previous closing price.
The identities of the buyers and sellers have not been disclosed. However, earlier reports suggest that Anamudi Real Estate LLP, a firm wholly owned by the Godrej family, may be the seller. The company was reportedly looking to sell off 5% of its 9.9% stake in Sobha Limited. Kotak Securities is believed to be the sole banker facilitating the deal.
As of 12:05 PM, Sobha shares were trading 3.41% lower at ₹1,799.00 on the NSE.
