Around 26.4 million shares or 2.33% stake of the company changed hands, according to a Bloomberg report
Shares of Devyani International Ltd dropped nearly 7 percent on Tuesday after it saw a huge block deal change hands, Bloomberg reported. However, the details of the buyers and sellers of the deal were not known.
Around 26.4 million shares or 2.33 percent stake of the company changed hands, according to a Bloomberg report. At 9.30am, the stock was trading at Rs 182.50 on the BSE, down 7 percent from its previous close.
Earlier, CNBC TV reported Dunearn Investments (Mauritius) Pte Ltd is likely to sell nearly 3 percent stake at Rs 182-196.25 per share. The base offer was expected at 2.6 crore shares (2.19 percent equity) with an upsize option of 87.76 lakh shares ( 0.73 percent equity). The total deal size is expected at $ 80-86 million.
Dunearn Investments currently holds 16.26 percent stake in Devyani International.
The stock was down for four consecutive sessions and lost around 14 percent in this period. So far this year, it advanced 18 percent.
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