Bulk Deals: Softbank exits Zomato, GQG Partners buys Rs 1,671.5 cr shares in GMR Airports Infra

In a span of just less than a couple of weeks, two big investors exited the company. The stock surged 151 percent from its low of the current year i.e. in January.

Pricol was also under pressure, falling 3.5 percent to Rs 341.1 on the NSE. Private equity firm PHI Capital Solutions LLP sold 30.03 lakh shares in Pricol, the automotive components manufacturer, at an average price of Rs 333.16 per share, amounting to Rs 100.05 crore.

As of September 2023, PHI held 5.73 percent stake or 69.84 lakh shares in the company.

However, Goldman Sachs India was the buyer for most of those shares, purchasing 28.94 lakh equity shares, equivalent to a 2.37 percent stake, in Pricol at an average price of Rs 333 per share, which amounted to Rs 96.39 crore.

GMR Airports Infrastructure has seen a lot of action after looking at the bulk deals data. The stock surged 11.67 percent to close at Rs 68.90, the highest level since June 2009.

GQG Partners Emerging Markets Equity Fund, and Goldman Sachs Trust II via Goldman Sachs GQG Partners International Opportunities Fund have bought 28.29 crore equity shares, equivalent to 4.7 percent of paid-up equity in GMR Airports. They bought shares at an average price of Rs 59.09 per share, amounting to Rs 1.671.55 crore.

GQG Partners is an investment management company headquartered in Florida.

Further, Nomura India Investment Fund Mother Fund also purchased 6.25 crore equity shares or 1 percent stake in GMR, and Stichting Depositary APG Emerging Markets Equity Pool picked 3.4 crore shares or 0.56 percent stake in GMR at an average price of Rs 58.20 per share.

However, foreign portfolio investors A/D Investors Fund LP, ASN Investments and Varanium India Opportunity exited GMR by selling their entire personal shareholding of 7.56 crore shares at an average price of Rs 58.20 per share, 43.9 crore shares at an average price of Rs 58.21 per share, and 13.9 crore shares at an average price of Rs 58.47 per share, respectively. Deccan Value Investors Fund LP offloaded 5.6 crore shares or 0.93 percent stake in GMR at an average price of Rs 58.20 per share.

Neuland Laboratories was also in action, rising 1.64 percent to Rs 5,164.25. Promoter Ramamohan Rao Davuluri sold 4 lakh shares, equivalent to 3.1 percent of paid-up equity, in the pharmaceutical company at an average price of Rs 5,012.45 per share. These shares are worth Rs 200.5 crore.

Mahindra Logistics shares jumped nearly 6 percent to Rs 381 despite the stake sale by Goldman Sachs. Goldman Sachs Funds via Goldman Sachs India Equity Portfolio sold 5.92 lakh shares or 0.8 percent stake in the logistics company at an average price of Rs 376.19 per share.

Among others, Five-Star Business Finance has also seen big block trades. The stock was down 2.83 percent at Rs 735.15.

Foreign promoter Matrix Partners India Investment Holdings II LLC sold 46,84,111 equity shares in the non-banking finance company at an average price of Rs 730 per share, and another 45,29,329 shares at an average price of Rs 730.02 per share. Matrix Partners, in total, sold a 3.16 percent stake in Five-Star, against its shareholding as of September 2023 at 4.75 percent.

US-based private equity firm TPG Asia VII SF Pte Ltd sold 44,53,747 shares in Five-Star at an average price of Rs 730.12 per share, and 44,53,746 shares at an average price of Rs 730 per share. It sold in total 3.05 percent stake, while its total shareholding in the company, as of September 2023, was at 14.29 percent.

Peak XV Partners Investments V sold 45,67,945 equity shares or a 1.56 percent stake in Five-Star at an average price of Rs 730 per share. Peak XV Partners, formerly Sequoia Capital India & SEA, is a leading venture capital and growth investing firm.