Anamudi Real Estate Offloads 5% Stake in Sobha Ltd via Block Deal Worth ₹858 Crore
Godrej Industries Group's Anamudi Real Estate has sold 47 lakh shares in Sobha Ltd for ₹858 crore, reducing its stake in the Bengaluru-based realty company.
Real EstateSobha LtdAnamudi Real EstateBlock DealGodrej Industries GroupReal EstateJul 26, 2024
In a significant development, Anamudi Real Estate, a part of the Godrej Industries Group, has sold 5% of its 9.9% stake in Sobha Ltd via block deals. The transaction, which took place in the initial hours of the trading session on Friday, July 26, saw 47 lakh shares changing hands at an average price of ₹1,810.44 per share, translating to a deal value of ₹858 crore.
Post the block deal, Anamudi Real Estate's stake in Sobha Ltd stands reduced. The shares of Sobha Ltd closed at ₹1,801 apiece on Friday, down 3.25% from its previous close.
Other buyers in the block deal include Aditya Birla Sun Life Mutual Fund, Mirae Asset Mutual Fund, and Invesco Mutual Fund. Aditya Birla Sun Life Mutual Fund bought 12.3 lakh shares for ₹223 crore, while Mirae Asset Mutual Fund and Invesco Mutual Fund purchased 5.8 lakh shares for ₹105 crore, and five crore shares for ₹90 crore, respectively.
Godrej Industries Group is a well-diversified conglomerate with interests in real estate, chemicals, and agricultural products, among others. Anamudi Real Estate is a part of the group's real estate business.
Frequently Asked Questions
What is the deal value of the block deal in Sobha Ltd?
The deal value of the block deal is ₹858 crore.
Who are the buyers in the block deal?
The buyers in the block deal include Aditya Birla Sun Life Mutual Fund, Mirae Asset Mutual Fund, and Invesco Mutual Fund.
What is Anamudi Real Estate's stake in Sobha Ltd after the block deal?
Anamudi Real Estate's stake in Sobha Ltd stands reduced after the block deal, but the exact percentage is not specified.
What is Sobha Ltd's market capitalization?
Sobha Ltd's market capitalization is over ₹20,000 crore.
What is Sobha Ltd's consolidated net profit for the quarter ended March 2024?
Sobha Ltd's consolidated net profit for the quarter ended March 2024 is ₹7.02 crore, down 86% from the previous year.
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