Bulk & Block Deals on August 16: IndiGo, Religare, JSW Energy exchange hands
Adani Power, IndiGo, Religare, JSW Energy, among others witnessed heavy and selling on BSE during Wednesday’s trading session. These stocks were in focus accordingly. US-based boutique investment firm GQG Partners Emerging Market Fund bought equity shares of both Adani Power and JSW Energy though block deal today. Also, IndiGo co-founder Rakesh Gangwal and his family members sold a portion of equity stake today via a large deal.
A bulk deal is a transaction in which at least five per cent of a company’s total equity shares are traded all at once. These transactions can take place throughout the regular trading session, unlike block deals. Bulk transactions do not require the opening of a special window. However, it is possible in the block deal window.
On the other hand, block deals refer to single trades with a 5 lakh share minimum or a value of ₹10 crore. When two parties agree to buy and sell at least these many shares at the same price, a block deal occurs.
Here is the list of major deals that took place on August 16:
JSW Energy:
According to BSE data, GQG Partners Emerging Market Fund bought 1 crore shares, or a 0.6 per cent stake, in the power producer at ₹341.70 apiece for ₹351 crore. Washington State Investment Board, AustralianSuper, Reliance Trust Institutional Retirement Trust Series Twelve, Witan Investment Trust Plc, and Alliance Trust Plc, among others, were the buyers of the shares of JSW Energy.
Adani Power
QG Partners along with other investors bought an 8.1 per cent stake in Adani Power Ltd for over ₹9,000 crore ($ 1.1 billion) on Wednesday. GQG Partners and other investors bought 31.2 crore shares of Adani Power in a block deal — one of the largest ever secondary market equity transactions, according to stock exchange data.
Promoter Adani family, which held 74.97 per cent in the firm, sold 31.2 crore or an 8.1 per cent stake at an average price of ₹279.17 per share. GQG Partners Emerging Markets Equity Fund and Goldman Sachs Trust II-Goldman Sachs GQG Partners Intl Opportunities Fund bought 15.2 crore shares at ₹279.15 apiece, according to BSE data.
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Updated: 16 Aug 2023, 10:19 PM IST
