Anamudi Real Estate Sells ₹858 Crore Worth of Shares in Sobha Ltd
Sobha's promoters hold 52.77% stake in the company, with a market capitalisation above ₹20,000 crore.
Real EstateBlock DealSobha LtdAnamudi Real EstateGodrej Industries GroupReal Estate NewsJul 26, 2024
Aditya Birla Sun Life Mutual Fund purchased 12.3 lakh shares for ₹223 crore, while Mirae Asset Mutual Fund and Invesco Mutual Fund acquired 5.8 lakh shares for ₹105 crore and 5 lakh shares for ₹90 crore, respectively. Following this transaction, Anamudi Real Estate's stake in Sobha Ltd has decreased to 4.99% from 9.99% earlier.
Sobha Ltd's shares closed at ₹1,801 apiece on Friday, down 3.25% from its previous close. The company's promoters hold 52.77% stake in the company, which has a market capitalisation above ₹20,000 crore.
Earlier, there were reports that Anamudi Real Estate was likely to sell 5% of its 9.9% stake in Sobha Ltd through block deals. The transaction was executed in the initial hours of the trading session on Friday.
It is worth noting that Sobha Ltd has been going through a challenging phase, reporting an 86% decline in consolidated net profit to ₹7.02 crore for the quarter ended March 2024. The company's net profit stood at ₹48.57 crore in the corresponding period a year ago. Total income also fell to ₹791.25 crore in the fourth quarter from ₹1,240.14 crore in the corresponding period of the previous year.
Information Sobha Ltd is a Bengaluru-based realty company, while Anamudi Real Estate is a part of the Godrej Industries Group. Aditya Birla Sun Life Mutual Fund, Mirae Asset Mutual Fund, and Invesco Mutual Fund are leading mutual fund companies in India.
Godrej Industries Group is a diversified conglomerate with interests in real estate, finance, and other sectors. Sobha Ltd is a leading realty company with a presence in multiple cities across India.
Frequently Asked Questions
How many shares of Sobha Ltd were sold by Anamudi Real Estate?
47 lakh shares
What is the current market capitalisation of Sobha Ltd?
Above ₹20,000 crore
Who are the major participants in the block deal?
Aditya Birla Sun Life Mutual Fund, Mirae Asset Mutual Fund, and Invesco Mutual Fund
What is the current stake of Sobha Ltd's promoters in the company?
52.77%
How did Sobha Ltd's shares perform on the day of the block deal?
Down 3.25% to ₹1,801 apiece
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