Relevant for Exams
Usha Martin promoter sells 23 lakh shares worth Rs 99 crore in block deal; Morgan Stanley among buyers.
Summary
Usha Martin's promoter, Peterhouse Investments India Limited, executed a block deal, divesting 23 lakh shares for Rs 99 crore. Institutional investors like Morgan Stanley and Bandhan Mutual Fund were among the key buyers, acquiring shares at Rs 430 each. This transaction illustrates a common mechanism for large-volume share transfers in the stock market, offering insight into financial market operations for aspirants preparing for banking and SSC exams.
Key Points
- 1Usha Martin's promoter entity, Peterhouse Investments India Limited, divested a stake.
- 2A total of 23 lakh shares were sold in the block deal.
- 3The block deal was valued at Rs 99 crore.
- 4Key institutional buyers included Morgan Stanley and Bandhan Mutual Fund.
- 5The shares were acquired at a price of Rs 430 each.
Full Article
Usha Martin's promoter, Peterhouse Investments India Limited, divested 23 lakh shares for Rs 99 crore in a block deal. Morgan Stanley and Bandhan Mutual Fund were among the buyers, acquiring shares at Rs 430 each. The transaction occurred as Usha Martin's stock closed higher at Rs 440.45.