Shares of Aditya Birla Capital witnessed a gain of nearly 3 percent in intraday trading on Wednesday, June 11, even as reports emerged of a partial stake sale by private equity major Advent International. Market activity showed that around 2.34 crore shares, amounting to a 0.9 percent equity stake and valued at approximately ₹568 crore, exchanged hands through a block deal at ₹242.7 per share.
As per media reports, Jomei Investments, a special purpose vehicle of Advent International, had initiated a larger block deal on Tuesday, June 10. The proposed transaction aimed to offload a 1.4 percent stake in Aditya Birla Capital, with an estimated deal value of ₹856 crore.
The floor price for the stake sale was set at ₹237.80 per share, which was about 2 percent lower than the stock’s closing price in the previous session. Despite the discount and the sizeable deal, the stock remained resilient in trade, suggesting investor confidence in the company’s long-term prospects.
About The Author
