Relevant for Exams
SBI MF, BlackRock buy 6.56% stake in Belrise Industries for Rs 897 crore via block deal.
Summary
SBI Mutual Fund and BlackRock jointly acquired a 6.56% stake in Belrise Industries through a block deal, valued at approximately Rs 897 crore. This significant institutional investment saw promoter entity Sumedh Tools exit its position. The transaction is important for understanding capital market dynamics and institutional investor confidence, though its direct relevance for most competitive exams is limited to financial awareness.
Key Points
- 1SBI Mutual Fund and BlackRock were the institutional buyers in the block deal.
- 2The transaction involved a 6.56% stake in Belrise Industries.
- 3The total value of the block deal was approximately Rs 897 crore.
- 4The seller was Sumedh Tools, a promoter entity of Belrise Industries.
- 5Post-deal, Belrise Industries' stock reached a fresh 52-week high.
Full Article
SBI Mutual Fund and BlackRock bought nearly Rs 897 crore worth of Belrise Industries shares via a block deal, as promoter entity Sumedh Tools exited. The purchase lifted Belrise stock to a fresh 52-week high, reflecting strong institutional investor confidence.