Block Deals Worth Rs 3,480 Crore On June 4 — Tata Tech, Indegene, Alkem, Aditya Birla Fashion In Focus
Various block deals are set to be executed on June 4. Deals from Indegene, Tata Tech, Alkem Labs and Aditya Birla Fashion aggregate to approximately Rs 3,480 crore.
Various block deals are set to be executed on Wednesday, June 4. Deals from Indegene Ltd., Tata Technologies Ltd., Alkem Laboratories Ltd., and Aditya Birla Fashion and Retail Ltd. aggregate to approximately Rs 3,480 crore.
Alkem Promoter Jayanti Sinha To Sell 1.42% Stake
Jayanti Sinha, a member of the promoter group of Alkem Laboratories Ltd., is set to sell a 1.42% stake, or 17 lakh shares, in the pharmaceutical company through a block deal, according to Bloomberg. The floor price for the shares has been set at Rs 4,850 apiece, a discount of about 3% to Alkem's current market price.
This takes the estimated deal size to Rs 824 crore.
As of March, Sinha holds 2.46% stake in the company. There is a 90-day lockup on the seller as well, according to the terms of the block deal that is set to take place on Wednesday.
TPG To Sell Up To Rs 654-Crore Stake In Tata Tech
Private equity major TPG is looking to offload 85 lakh shares, or 2.1% stake in Tata Technologies Ltd. through open market transactions, according to a Bloomberg report on Tuesday.
The shares will be sold on Wednesday via block deal by TPG Rise Climate SF Pte, the entity through which the PE firm has invested in Tata Tech.
The stake will be offloaded in a price range of Rs 744.5 to Rs 767.5 apiece, which takes the estimated deal size to Rs 654 crore at the upper end of the price band. The block deal will be executed via BofA Securities, the news agency further added.
Notably, TPG held 2.44 crore shares, or around 6% stake in Tata Tech as of the quarter ended March 31, 2025.
Carlyle Group To Exit Indegene For At Least Rs 1,420 Crore
US private equity firm Carlyle Group is set to exit Indegene Ltd. by selling shares for at least Rs 1,420 crore via open market transactions on Wednesday.
Carlyle affiliate CA Dawn Investments has offered to sell over 2.4 crore shares at a floor price of Rs 580 per share, according to the term sheet accessed by NDTV Profit.
The floor price is at a 6.41% discount to Tuesday's close on the NSE. The offer represents the entire 10.2% equity held by Carlyle in the company. IIFL Capital Services Ltd. and Kotak Securities Ltd. are the bookrunners for the block deal.
Flipkart Eyes Exit For At Least Rs 582 Crore
Walmart-owned Flipkart is planning to exit Aditya Birla Fashion & Retail Ltd. through open market transactions on Wednesday for at least Rs 582 crore. Flipkart Investments Pvt. has offered to offload its entire 6% stake containing over 7.3 crore shares via block deals.
The floor price has been set at Rs 79.5 per share, according to the termsheet reported by Bloomberg News. The base price represents a 7.6% discount to the last closing.
Multinational investment bank Goldman Sachs is the bookrunner for the deal.
