Akzo Nobel India Block Deals: Promoter discharges RS 765 Crore Stake; Nippon, Goldman, Citi under buyers

Akzo Nobel India Block Deals: Promoter discharges RS 765 Crore Stake; Nippon, Goldman, Citi under buyers

Akzo Nobel India’s Promoter Entity Imperial Chemical Industries has today sold more than 22.77 LAKH shares worth RS 765 Crore through several blocks to Marquee International and domestic funds. The shares were sold at a price of RS 3,358.8 each to Goldman Sachs, Citigroup, BNP Paribas, Societe Generale, Morgan Stanley, Nippon India Mutual Fund, Aditya Birla Sunlife Mutual Fund and Edelweiss Life Insurance Company.

Nippon was the best buyer at RS 274 Crore and was followed by WF Asian Smaller Companies Fund and Goldman Sachs.

Block Deal Details

– Nippon India Mutual Fund bought 8.14.894 shares worth RS 273.70

– WF Asian smaller companies Fund bought 5.28,500 shares on RS 177.5 Crore

– Goldman Sachs bought shares worth RS 151.50 Crore

– Citigroup purchased shares worth RS 35.2 Crore

– Baroda BNP Paribas MF bought 74,820 shares with a deal size of RS 25.13 Crore

– Aditya Birla Sunlife MF bought 45,986 shares on RS 15.4 Crore

– Mediolanum Best Brands-Mediolanum India bought opportunities 36,905 shares on 12.4 crore purchased shares worth RS 10 crore, each

– BNP Paribas Financial Markets, Societe Generale, Morgan Stanley, Bandhan MF, Edelweiss, Ghisallo Master Fund LP

– New York State Teachers Retirement System purchased 24,407 shares worth RS 8.2 Crore

– GS India Equity bought 16.128 shares with a consideration of RS 5.41 Crore.

Akzo Nobel India is an Indian subsidiary of AkzoNobel in Amsterdam.

The shares were sold with a discount of 1% during the Tuesday closing price of RS 3,394.65. Today the shares ended at RS 3390.75 on the BSE from RS 3.90 or 0.11%.

It is a market that has fallen by 8% in the past year and shares are currently being traded under their 50-day and 200 days of simple advancing averages of RS 3,518.2 and RS 3,481 respectively.

Also read: NDR Invit Trust Bulk Deals: Radhakishhan Damani chooses RS 100 CR -Selang; Rakesh Jhunjhunwala Trust Invests RS 67 CR

(Disclaimer: recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)

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