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Thursday, November 30, 2023

Bulk Deals | Abu Dhabi Investment Authority exits Harsha Engineers International, TPG Growth sells 100% stake in Landmark Cars


On June 23rd we had several big deals with global private equity firm TPG Growth exiting Landmark Cars, FPI Abu Dhabi Investment Authority selling 100% of Harsha Engineers International, promoter Nishant Pitti through open market transactions acquired a 3.6% stake in Easy Trip Planners. According to the batch transaction data provided by the exchange. Global private equity firm TPG Growth II SF Pte Ltd has sold 44.56 shares or 11.25% of its entire stake in Landmark Cars at an average price of Rs 658 per share. The stake sale is worth Rs 2,932 crore. Promoter Sanjay Karsandas Thakker (HUF) also sold its entire 1.41 percent stake, or 560,000 shares, in the auto retailer for the same price. As of March 2023, the promoters’ total stake in the company is 55.18%. However, six investors Unifi Capital, Societe Generale, ICICI Prudential Life Insurance Company, Goldman Sachs Funds – Goldman Sachs India Equity Portfolio, Abakkus Diversified Alpha Fund, Abakkus Asset Manager LLP and 3P India Equity Fund 1 are part of the shares The buyer, acquired 3.862 million shares, or a 9.7 per cent stake, in Landmark Cars worth Rs 2,541.3 crore at the same price. As a result, shares of Landmark Cars rose 8.3 percent to Rs 717.15 on the NSE. Easy Trip Planners was also in the spotlight on Friday as its promoter Nishant Pitti sold a stake of Rs 6.25 billion, or a 3.6 per cent stake in the travel agency company, at an average price of Rs 42.6 per share. The share sale price is Rs 266.58 per share. However, Wilson Holdings was the buyer in the deal, acquiring all of the shares for the same price. The stock corrected 2 percent to close at Rs 42.1. Shares of Harsha Engineers International rose nearly 7 percent to 470.45 rupees. Foreign portfolio investor Abu Dhabi Investment Authority has exited the precision bearing cage maker by selling its entire 1.776 million shares or 1.95% stake at an average price of Rs 435.02 per share, equivalent to Rs 7,725 crore. However, Plutus Wealth Management LLP bought 1.604 lakh shares in Harsha Engineers at an average price of Rs 435 per share. Buying interest was also seen in Parag Milk Foods, which climbed over 7 per cent to Rs 120.40 on the back of a sharp increase in volume. Sixth Sense India Opportunities III, a venture capital fund managed by Sixth Sense Ventures, has bought an additional 680,000 shares, or a 0.58 percent stake, at an average price of Rs 121.23 each. As of March 2023, Sixth Sense India Opportunities III already holds a 2.3% stake in the company and Sixth Sense India Opportunities II holds a 1.54% stake in the company. Among other transactions, promoter Shapoorji Pallonji and Company sold 3.5 million shares or 1.84% stake in Sterling and Wilson Renewable Energy worth Rs 1,033.3 crore at an average price of Rs 295.25 per share through open market transactions. The stock fell 3 percent to 289.15 rupees. However, Sahastraa Advisors bought 990,000 shares in the renewable energy company and Setu Securities bought 1.71 million shares in the renewable energy company for the same price. Indiabulls Housing Finance was also in focus as Florintree Insurtech LLP has acquired 3.05 million shares, or 0.64 per cent stake, in the housing finance company at an average price of Rs 115.54 per share. Miri Strategy Emerging Markets Fund LP bought 446,000 shares of 63 Moons Technologies at an average price of Rs 190.68 each and 627,000 shares of Antony Waste Handling Cell at an average price of Rs 318.99 each. In the previous session, Miri Strategic Emerging Market Fund LP had bought 250,000 shares of Antony Waste at an average price of Rs 277.65 per share. Shares of Antony Waste surged 17.4% to Rs 330.15, building on an 11% gain in the previous session, while 63 Moons Technologies locked in a 20% cap at Rs 201.70.


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