Mahindra and Mahindra, the flagship company of the Mahindra Group, exited RBL Bank by selling its entire 3.45 percent shareholding in the bank via open market transactions on November 6.
RBL Bank closed the session at Rs 325.6 on Thursday, up half a percent. The stock has been in a consolidation phase especially after recording over 9 percent rally on October 20 following the news of major stake acquisition by Emirates NBD in the bank.
Mahindra and Mahindra, the flagship company of the Mahindra Group, sold 2.11 crore equity shares in RBL Bank (equivalent to 3.45 percent of paid-up equity) at Rs 320.65 per share, valued at Rs 677.95 crore.
Global investors like Abu Dhabi Investment Authority, Citigroup Global, Societe Generale, BofA Securities Europe, Goldman Sachs, and Morgan Stanley as well as domestic institutional investors like HSBC MF, Kotak Mahindra MF, SBI Mutual Fund, HDFC Standard Life Insurance Company, and Aditya Birla Sun Life AMC were buyers for the said 3.45 percent stake in RBL Bank.
Meanwhile, Internet Fund III, owned by the venture capital fund Tiger Global Management, also exited Bengaluru-based electric scooters maker Ather Energy by selling entire 5.09 percent shares for Rs 1,204.4 crore.
Internet Fund sold 1.01 crore shares at Rs 623.56 per share, and 92.35 lakh shares at Rs 620.45 per share in Ather Energy. The stock reacted to the stake sale given the heavy volume selling, falling 5 percent to Rs 633.85 on the NSE.
Newly listed Orkla India was also in focus, which closed the first trading session with 2.24 percent loss at Rs 713.65. Nippon India Mutual Fund has bought 62.22 lakh shares (4.54 percent stake) in the spices and convenience foods maker at Rs 737.96 per share for Rs 459.2 crore.
Meanwhile, GreenX Wealth Multi Horizons Opportunity Fund acquired 2.18 lakh shares (2.4 percent stake) in Dhariwalcorp, the wax and industrial chemicals trader at Rs 248.58 per share for Rs 5.4 crore, and 1.25 lakh shares (0.5 percent stake) in Essen Speciality Films, the plastic products maker, at Rs 202.21 per share for Rs 2.5 crore.
iSquare Global PE Fund bought 68,000 shares in Emergent Industrial Solutions at Rs 636.3 per share for Rs 4.3 crore, while Davos International Fund sold 67,539 shares in the company at same price for Rs 4.29 crore.
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