Warburg Pincus halves holding in Apollo Tyres; 2 FPIs sell stake in Jindal Saw via open market
Despite the sale, the stock ended in the green due to strong buying by domestic and foreign institutional investors. Shares of Apollo Tyres ended 0.5% higher at Rs 455.35. In the last three months, the stock has gained more than 22%. Nippon India ...
By Vidya Sreedhar, ETMarkets.com |
ETMarkets.com
MUMBAI - Global private equity major Warburg Pincus on Tuesday sold a 4.5% stake in leading tyre manufacturer Apollo Tyres for Rs 1,281 crore through multiple block deals.
Warburg Pincus, through its affiliate White Iris Investment, sold 2,85,79,542 shares at Rs 448.35 apiece, according to block deals data on the BSE. This was at a discount of 1% to the previous closing price of the stock.
As of September-end, the private equity major held 8% stake in the tyre manufacturer.
Despite the sale, the stock ended in the green due to strong buying by domestic and foreign institutional investors. Shares of Apollo Tyres ended 0.5% higher at Rs 455.35.
In the last three months, the stock has gained more than 22%.
Nippon India Mutual Fund was the largest buyer of 1,20,44,000 shares or 1.9% stake for Rs 540 crore.
Meanwhile, Societe Generale bought 23,07,700 shares for Rs 103 crore, and Morgan Stanley Singapore purchased 16,40,000 shares for Rs 74 crore.
The other buyers included Citigroup Global Markets, Goldman Sachs, Ghisallo Master Fund, Kotak Mahindra AMC, UTI MF, Edelweiss MF, ICICI Prudential MF, Invesco MF, Nippon India MF, and Plutus Wealth Management.
Meanwhile, in a block deal on the National Stock Exchange, two foreign portfolio investors sold shares of Jindal Saw.
HSBC MF bought 419,500 shares of Jindal Saw, and Societe Generale bought 500,000 shares at Rs 429.1 per share.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Warburg Pincus, through its affiliate White Iris Investment, sold 2,85,79,542 shares at Rs 448.35 apiece, according to block deals data on the BSE. This was at a discount of 1% to the previous closing price of the stock.
As of September-end, the private equity major held 8% stake in the tyre manufacturer.
Despite the sale, the stock ended in the green due to strong buying by domestic and foreign institutional investors. Shares of Apollo Tyres ended 0.5% higher at Rs 455.35.
In the last three months, the stock has gained more than 22%.
Nippon India Mutual Fund was the largest buyer of 1,20,44,000 shares or 1.9% stake for Rs 540 crore.
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Meanwhile, Societe Generale bought 23,07,700 shares for Rs 103 crore, and Morgan Stanley Singapore purchased 16,40,000 shares for Rs 74 crore.
The other buyers included Citigroup Global Markets, Goldman Sachs, Ghisallo Master Fund, Kotak Mahindra AMC, UTI MF, Edelweiss MF, ICICI Prudential MF, Invesco MF, Nippon India MF, and Plutus Wealth Management.
Meanwhile, in a block deal on the National Stock Exchange, two foreign portfolio investors sold shares of Jindal Saw.
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US-based Cresta Fund Management sold 20,00,000 shares or 0.6% stake in the company for around Rs 86 crore, block deals data showed. Mauritius-based Albula Investment Fund sold 260,000 shares for Rs 11.2 crore. HSBC MF bought 419,500 shares of Jindal Saw, and Societe Generale bought 500,000 shares at Rs 429.1 per share.
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Shares of Jindal Saw ended 1.2% higher on the National Stock Exchange at Rs 438.55. In the last six months, the stock has rallied more than 86%. (Subscribe to ETMarkets WhatsApp channel)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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