Promoter sells 9% stake in Akzo Nobel; Polar Capital, Poonawalla Vision Fund pick up 4% shares in Nephrocare

Bulk Deals on December 17

Promoter Imperial Chemical Industries sold nearly 9 percent equity stake in Akzo Nobel India, the paint manufacturer, for Rs 1,296 crore via open market transactions on December 17, while founder Bhavish Aggarwal offloaded nearly 1 percent shares in Ola Electric Mobility, continuing stake sale for another session.

Akzo Nobel shares plunged 13.56 percent to close Rs 3,132.7 amid significantly higher volumes after sharp gap-down opening on the NSE.

Imperial Chemical Industries has offloaded 40.97 lakh shares (equivalent to 8.99 percent equity stake) in Akzo for over Rs 1,296.09 crore at Rs 3,163.5 per share. Promoters held 69.76 percent equity stake in the company as of September 2025.

However, Goldman Sachs Funds acquired 3.35 lakh shares (0.73 percent stake) in the paint company for Rs 105.67 crore at Rs 3,150 per share.

Meanwhile, Nephrocare Health Services shares attracted good interest from Polar Capital Funds, and Poonawalla Vision Fund which bought 4 percent stake in the company on its market debut day, closing the session at Rs 471.25, up 2.45 percent.

Polar Capital Funds Plc through Healthcare Opportunities Fund acquired 34.27 lakh shares (3.41 percent stake) in Nephrocare for Rs 165.1 crore at Rs 481.77 per share, and Poonawalla Vision Fund I bought 6.1 lakh shares (0.6 percent stake) for Rs 29.89 crore at Rs 490.05 per share.

Ola Electric Mobility remained in focus for another session, falling 4.58 percent to end at new closing low of Rs 32.9 on Wednesday after founder Bhavish Aggarwal sold 4.19 crore shares for Rs 142.3 crore at Rs 33.96 per share, in addition to 0.6 percent stake sale in previous session.

In the past two sessions, Bhavish pared more than 1.5 percent stake in the company for Rs 234.17 crore, against the total promoters' shareholding in Ola Electric was 36.78 percent as of September 2025.

SBI General Insurance Company A/C SBGIFRSM acquired 62.64 lakh rights shares in Hindustan Construction Company for Rs 2.6 crore at Rs 4.16 per share, however, Canara Bank sold 1.05 crore rights shares for Rs 4.22 crore at Rs 4.02 per share.

SG Finserve shares gained 2.03 percent to Rs 399.35, may be after S Gupta Holding acquired 4.75 lakh shares (0.84 percent stake) for Rs 18.97 crore at Rs 399.41 per share.