First Water Fund buys additional 0.75% shares in Uflex, raising holding to over 3.6%

Block Deals on December 11

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26 Aug, 2025 12:21

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First Water Fund, a part of First Water Capital founded by Arun Chulani and Kunal Bhakta in 2017, has picked up additional 0.75 percent stake in Uflex, the packaging solutions provider, via open market transactions on December 11.

Uflex gained 0.28 percent to Rs 468.55 on Thursday, but overall, it has been falling since October and lost more than 20 percent from October high.

First Water Fund has bought 5.45 lakh shares (equivalent to 0.75 percent of paid-up equity) in the company for Rs 25.07 crore at Rs 460 per share, from K2 Family Private Trust.

Additionally, on December 3, both have exchanged 3 lakh shares of Uflex at Rs 477 per share.

As a result, perhaps, the shareholding of First Water Fund might have increased to 3.64 percent, from 2.47 percent seen at the end of September 2025.

Uflex has recorded profit of Rs 26.91 crore in the quarter ended September 2025, against loss of Rs 64.62 crore in the same period last year (which was impacted by exceptional loss of Rs 92.64 crore). However, the revenue was almost flat at Rs 3,832 crore against Rs 3,833.4 crore in the same period.

Meanwhile, the block deal was also seen in Yes Bank, the private sector lender, which rose 1 percent to Rs 21.94, trading in a range for third consecutive day after falling sharply on Monday.

BNP Paribas Financial Markets acquired 1.77 crore equity shares (0.05 percent stake) in the bank for Rs 37.4 crore at Rs 21.08 per share, from Copthall Mauritius Investment.

Gallantt Ispat has also seen exchange of shares, which declined 0.61 percent to Rs 593.95. The stock has been consolidating for a month now especially after hitting swing high of around Rs 680 in November.

Gallantt Industry has bought 9.67 lakh shares (0.4 percent stake) in Gallantt Ispat for Rs 57.05 crore at Rs 590 per share, from K and K Ventures.