Highdell Funding, owned by US-based personal fairness main Warburg Pincus, on Friday divested a 6.2 per cent stake in Kalyan Jewellers India Ltd for Rs 725 crore by means of an open market transaction.
Franklin Templeton Mutual Fund (MF), Sundaram MF, BNP Paribas Arbitrage, Citigroup International Markets Mauritius, and Staff Provident Fund, amongst others, have been the consumers of the shares of Kalyan Jewellers.
Following the deal, shares of Kalyan Jewellers zoomed 17.16 per cent to shut at Rs 133.80 per piece on the Nationwide Inventory Trade (NSE).
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In accordance with the block deal knowledge out there with the NSE, Highdell Funding bought a complete of 6,41,02,561 shares, amounting to a 6.2 per cent stake within the jeweller chain firm.
The shares have been disposed of at a mean worth of Rs 113.10 apiece, taking the transaction dimension to Rs 724.99 crore, as per the information.
Publish the newest transaction, Highdell’s shareholding has been lowered to 17.6 per cent from 23.82 per cent stake on the finish of March.
In March this yr, Highdell Funding pared a 2.26 per cent stake in Kalyan Jewellers for Rs 256 crore.
Kalyan Jewellers India Pvt Ltd is into manufacturing and sale of gems and jewelry.
In a separate block deal, FIH Mauritius Investments sells a 1.3 per cent stake in IIFL Finance for Rs 250 crore by means of an open market transaction.
FIH Mauritius Investments is a subsidiary of Canadian billionaire Prem Watsa-backed Fairfax Group.
As per the information out there with the NSE, FIH Mauritius Investments bought 50 lakh shares, amounting to a 1.3 per cent stake in IIFL Finance.
The shares have been bought at a mean worth of Rs 500 apiece, taking the deal worth to Rs 250 crore.
These shares have been acquired by DSP Mutual Fund.
FIH Mauritius Investments owned a 22.25 per cent stake within the firm as of the March quarter, newest shareholding knowledge confirmed with the bourse.
On Friday, shares of IIFL Finance rose 2.49 per cent to settle at Rs 511.15 per piece on the NSE.
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