Shares of Genus Power Infrastructures fell as much as 11 percent on Tuesday, June 30, after a block deal took place in the pre-open block window. As many as 88 lakh shares of the company, or 2.9 percent of its outstanding equity, changed hands in the transaction. The shares changed hands at an average price of Rs 285.80 each, taking the total transaction value to Rs 267.5 crore.
The buyers and sellers in the deal are not officially known, since exchange disclosures for block transactions do not name counterparties. However, sources have told CNBC-TV18 that GIC, the Singapore sovereign wealth fund, is the likely seller in today’s block deal. At the end of the March quarter, GIC held a 15.1 percent stake in Genus Power, based on the company’s shareholding pattern, which would make a transaction of this size a partial trimming of that holding rather than a complete exit, given the stake sold today amounts to roughly a fifth of GIC’s reported position.
This comes a day after market sources had named investors Akash Bhansali and Madhusudan Kela as key buyers in a separate block deal in the same stock, a report that itself remained unconfirmed through official channels. Taken together, the two episodes suggest the counter has seen unusually heavy block activity over consecutive sessions, with marquee value investors reportedly on the buying side even as a large institutional holder appears to have used the opportunity to pare its position.
The sharp double-digit fall in the share price on a transaction representing under 3 percent of the company’s equity points to the size and pace of the block weighing on sentiment in early trade, a pattern often seen when a large institutional seller exits through a single transaction rather than staggering sales over time. Until the exchanges publish official bulk or block deal data confirming the identities of both sides, the buyer in today’s transaction remains unidentified, while the seller’s identity rests on source-based reporting rather than confirmed disclosure.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. The buyer and seller details mentioned in this report are based on unconfirmed sources and have not been verified through official exchange disclosures. The figures and securities mentioned are for analysis and illustration, not recommendations. Markets carry risk, and readers should conduct their own research or consult a registered financial adviser before making any investment decision.
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