Government of Singapore and SBI Mutual Fund on August 18 acquired more than 2 percent equity stake in auto ancillary company Sona BLW Precision Forgings (Sona Comstar) via open market transactions.
Government of Singapore bought 30,68,730 equity shares in the company, while SBI Mutual Fund bought 87 lakh shares via open market transactions as per the data available on the exchanges.
These shares were bought by both investors at an average price of Rs 505 per share.
However, promoter Singapore VII Topco III Pte Ltd, an affiliate of private equity firm Blackstone, offloaded 7,94,33,500 equity shares or 13.59 percent stake in Sona Comstar at an average price of Rs 509.10 per share. The stake sale was worth Rs 4,043.95 crore.
In the IPO last year, Singapore VII Topco III had offloaded half of its shareholding in Sona BLW for Rs 5,250 crore. As of June 2022, Singapore VII Topco III PTE holds around 34.12 percent stake in Sona BLW.
On August 17, Moneycontrol quoting CNBC Awaaz reported that Blackstone was likely sell Sona BLW shares worth Rs 4,000 crore in a block deal on August 18.
Sona Comstar closed at Rs 517.40 on the BSE, down 4 percent after the stake sale by promoter.
Among other deals, Newquest Asia Investments II Limited sold 10 lakh shares in Capacite Infraprojects at an average price of Rs 135.21 per share. However, the stock rallied 5.6 percent to settle at Rs 142.
ICICI Prudential Mutual Fund bought 1,18,69,867 units in Embassy Office Parks REIT at an average price of Rs 357 per unit, whereas American Balanced Fund sold 2,92,62,468 units at an average price of Rs 357.61 per unit.
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