This week witnessed a flurry of activity in the stock market as promoters and private equity (PE) investors executed block deals worth a massive Rs 20,000 crore. The deals saw significant stakes in various companies being sold, reflecting a busy week for the market.
Major Block Deals
- Zomato: On August 20, Antfin Singapore Holding offloaded Zomato shares worth Rs 4,771 crore, representing a 5% stake in the company.
- PNB Housing: The same day, General Atlantic sold a 2.4% stake in PNB Housing through a block deal valued at Rs 1,116 crore. Just two days later, on August 22, Asia Opportunities V (Mauritius) sold another 3.1% stake in the company for Rs 1,032.7 crore.
- Kalyan Jewellers: PE investor Warburg Pincus exited its 6.5% stake in Kalyan Jewellers, selling shares worth Rs 3,585 crore. As part of the transaction, Highdell Investment sold 2.42 crore shares to promoter Trikkur Sitarama Iyer Kalyanaraman for Rs 1,300 crore.
- Eris Lifesciences: Chrys Capital sold a 7.3% stake in Eris Lifesciences for Rs 1,187 crore, with Infinity Partners purchasing the shares.
- Alkem Laboratories: Promoters sold a 0.7% stake in Alkem Laboratories, with the deal valued at Rs 487 crore.
Notable Deals on the Last Trading Day
The week’s largest deals occurred on Friday, when companies like Ambuja Cement, Tata Technologies, and GMR Airports saw substantial share sales:
- Ambuja Cements: A series of block deals saw 2.8% of the company’s equity change hands, totaling Rs 4,251 crore.
- Tata Technologies: Alpha TC Holdings sold its entire 2.8% stake in Tata Technologies, with the deal valued at around Rs 1,000 crore.
- Nykaa: The online beauty giant saw a 1.4% stake sold in a deal worth Rs 800 crore.
- GMR Airports: A 0.9% stake in GMR Airports was sold for Rs 503 crore.
Year-to-Date Overview
So far in 2024, promoters have sold shares worth over Rs 80,000 crore through open market transactions and offers for sale (OFS), reflecting strong activity in the stock market.
