Bulk deals | Six investors including ADIA, Nomura pick 7.67% stake in Triveni Turbine

Stocks

SBI Mutual Fund acquired additional 75,45,788 shares in Triveni Turbine. The fund house already held 2.01 crore shares or 6.25 percent stake in the company as of June 2022.

Sunil Shankar Matkar

September 21, 2022 / 07:43 PM IST

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Six investors including ADIA and Government of Singapore picked 7.67 percent stake in Triveni Turbine via open market transactions on September 21. The stock price gained 1 percent to close at Rs 231.4.

Abu Dhabi Investment Authority, Aditya Birla Sun Life MF, Government of Singapore, Plutus Wealth, SBI Mutual Fund, and Nomura acquired in total 7.67 percent shareholding in the steam turbines manufacturer.

Abu Dhabi Investment Authority acquired 40,58,227 equity shares in Triveni Turbine, and Aditya Birla Sun Life Mutual Fund bought 37,73,955 shares. Government of Singapore purchased 41,98,226 shares, and Plutus Wealth Management LLP bought 20,38,058 shares as per bulk deals data available with the exchange.

SBI Mutual Fund acquired additional 75,45,788 shares in the company. The fund house already held 2.01 crore shares or 6.25 percent stake in the company as of June 2022.

The Nomura Trust and Banking Company Ltd as the Trustee of Nomura Indian Stock Mother Fund also bought 31,99,351 shares in Triveni Turbine.

These shares by above six investors were bought at an average price of Rs 226.7 per share.

However, the bulk deals indicated that promoter entities itself changed hands with 10 percent stake. Triveni Engineering and Industries was the actual seller in the deal, offloading its entire shareholding of 7,06,27,980 equity shares or 21.85 percent at an average price of Rs 227.75 per share, however, other promoter Rati Sawhney bought additional 3,23,30,548 shares or nearly 10 percent at an average price of Rs 229 per share.

Rati Sawhney was holding 58.38 lakh shares or 1.81 percent stake in Triveni Turbine as of June 2022.

Among other deals, investor TPG Dodla Dairy Holdings Pte Ltd has sold 18,31,434 equity shares in Dodla Dairy at an average price of Rs 525 per share.

Earlier, TPG had sold 10.4 lakh shares in the company on September 1. As of June 2022, its shareholding in Dodla was 58.31 lakh shares or 9.8% stake.

However, Bharat Bio Tech International was the buyer in this deal, acquiring 20,26,434 equity shares or 3.4% stake in Dodla Dairy at same price.

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