Polycab India promoters offload 1.5% stake to clutch of investors for Rs 1,740 crore

Bulk Deals, Block Deals on September 25

Promoters sold 1.5 percent stake in Polycab India, the wires and cables manufacturer, to clutch of investors for Rs 1,740 crore via open market transactions on September 25.

Polycab India shares fell 1.66 percent to Rs 7,407.5 on Thursday, extending losses for third consecutive session especially after hitting record high on Monday this week.

Promoters - Ajay Jaisinghani, Girdhari Thakurdas Jaisinghani, Ramesh Thakurdas Jaisinghani, Inder Thakurdas Jaisinghani, and others - offloaded 23.3 lakh shares at Rs 7,458 per share, for Rs 1,739.7 crore, as per block deals data available on the exchanges.

JP Morgan Fund ICVC was the biggest buyer among investors participated in the block deals of Polycab India, acquiring 14.84 lakh shares for Rs 1,107 crore, followed by Morgan Stanley Asia Singapore which bought 3.64 lakh shares for Rs 272 crore.

Kotak Mahindra Life Insurance Company picked 1 lakh shares in the FMEG company for Rs 75 crore. Other investors including Tata Equity Plus Absolute Returns Fund, Societe Generale, Ask Absolute Return Fund, HDFC Standard Life Insurance, and Viridian Asia Opportunities Master Fund also invested in Polycab India.

Brisk action was also seen in rice milling company GRM Overseas's shares which rose 3.2 percent to Rs 371.35, trading at the upper Bollinger bands, likely due to exchange of large quantity of shares.

Promoters Atul Garg and Mamta Garg sold 16.25 lakh shares (2.6 percent stake) in GRM at Rs 357 per share for Rs 58.01 crore, to three investors - Nikhil Vora, RG Family Trust, and Singularity Equity Fund I.

Meanwhile, QRG Investments and Holdings offloaded 3.67 lakh shares or half a percent stake in Awfis Space Solutions, the flexible workspace solutions provide at Rs 591.17 per share for Rs 21.72 crore.

As of June 2025, QRG Investments held 5.07 percent stake in Awfis Space. The stock closed half a percent down at Rs 586.30, extending downtrend for fourth straight session.

Dev Accelerator shares gained 1.8 percent to close at Rs 55 on the NSE. Amit Ranchhodlal Chokshi has bought additional 7.5 lakh shares (0.8 percent stake) at Rs 56.03 per share, for Rs 4.2 crore.