Large block deals worth over ₹4,210 crore were executed in Paytm, Meesho and Poonawalla Fincorp on August 4. Paytm accounted for the bulk of transactions with 1.49 crore shares (representing approximately 2.3% of outstanding equity) changing hands at an average price of ₹1,367.8 per share, translating to a total deal value of ₹2,038 crore. The transaction saw SAIF Partners and Elevation Capital V offload their stakes, with institutional investors emerging as key buyers. Meesho saw 10.48 crore shares (representing around 2.27% of outstanding equity) traded at ₹186 per share, taking the total deal value to approximately ₹1,949 crore. Poonawalla Fincorp witnessed multiple block deals with 47 lakh shares changing hands through deals valued at ₹222.96 crore.
National Pension System (NPS) Trust emerged as the largest buyer in Paytm, acquiring shares worth ₹413.1 crore, while Axis Mutual Fund purchased shares valued at ₹369.3 crore. ICICI Prudential Life Insurance also participated with acquisitions worth ₹206.5 crore. In Meesho, Fidelity led the institutional buying with purchases worth ₹245.7 crore, followed by Societe Generale which acquired shares valued at ₹208.3 crore and Axis Mutual Fund with purchases worth ₹198.1 crore. The institutional participation demonstrates strong confidence from pension funds and mutual funds in these technology and financial services companies.
The Government of India has announced the sale of up to 6.5% stake in Life Insurance Corporation of India (LIC) through an offer for sale (OFS) on August 4-5. The base offer size is 2.5% of the paid-up equity share capital (31.62 crore equity shares), with an additional 4% stake (50.59 crore shares) available under the green shoe option. The floor price has been fixed at ₹382 per share, representing an 11% discount to Monday's closing price. The stake sale is aimed at helping LIC meet SEBI's minimum public shareholding norms, with the government's holding reducing from 96.5% to 90%, in line with the market regulator's deadline of May 2027.
Arvind has launched a qualified institutional placement (QIP) to raise around ₹500 crore, according to sources. The indicative issue price has been set at ₹505 per share, representing a discount of about 4.5% to the August 3 closing price. The QIP carries a 90-day lock-up period. This adds to the heavy equity issuance pipeline estimated at nearly ₹36,000 crore through various transactions including OFS, QIP and block deals.
Kirloskar Pneumatic Company has completed acquisition of 99.49% of the total voting power in M/s Kirloskar South East Asia Co. (KSEA), further strengthening its strategic presence in the region. With this acquisition, KSEA has become a subsidiary of the company. Meanwhile, Jupiter Wagons Ltd has completed the acquisition of the remaining 1.94% equity stake in its material subsidiary, Jupiter Tatravagonka Railwheel Factory Private Limited, for a cash consideration of ₹16.53 crore. This transaction elevates the company's total holding to 100%, establishing absolute operational control over its key railwheel vertical.
Paytm shares are trading at ₹1,414.10 per share, which is 2.77% higher than the previous close of ₹1,376 per share, as reported by ET Now. Meesho shares are currently trading at ₹193.30 per share, which is 0.86% higher than the previous close of ₹191.65 per share. Meanwhile, Poonawalla Fincorp shares are trading 0.09% below the previous close of ₹470.15 per share, at ₹469.75 per share. The positive momentum in Paytm and Meesho shares follows the successful completion of their respective block deals, while Poonawalla Fincorp continues to trade near previous levels despite the significant block deal activity.
Several companies reported robust quarterly results with significant profit growth. SBI Funds Management posted a 3.7% increase in profit to ₹880.3 crore versus ₹848.8 crore in the previous year, while revenue grew 15.2% to ₹1,152.7 crore from ₹1,000.9 crore. Great Eastern Shipping Company delivered exceptional performance with profit zooming 159.4% to ₹1,308.8 crore versus ₹504.5 crore, and revenue jumping 66.9% to ₹2,005.4 crore from ₹1,201.5 crore. KEI Industries showed strong momentum with profit surging 40% to ₹274.1 crore versus ₹195.7 crore, and revenue increasing 23% to ₹3,185.3 crore from ₹2,590.3 crore.
