Invesco Likely To Sell Rs 3,400-Crore Stake In Oberoi Realty, Lodha Developers Via Block Deals: Sources
Shares of Oberoi Realty Ltd. and Lodha Developers Ltd. will be in focus on Wednesday as both companies may have block deals with global investment firm Invesco looking to offload shares worth Rs 3,414 crore, sources told NDTV Profit.
Individually, Oberoi Realty's block deal is worth 1,987 crore while Lodha Developer will have a block deal worth Rs Rs 1,425 crore, the sources added.
The floor price for the Oberoi Realty block deal is Rs 1,753.2 per share, which is a 4% discount to current market price, while that for Lodha Developer, it is Rs 1384.6, which is also 4% lower as compared to the CMP, the persons privy to the development added.
Goldman Sachs is banker to both the deals, the sources stated.
Invesco had a 3% stake in Oberoi Realty Ltd. till June 2025, according to BSE.
The shares of Oberoi Realty ended 0.46% lower at Rs 1,826.2 apiece on the NSE on Tuesday. The stock has risen 21% on a year-to-date basis, and is up 4.71% in the last 12 months. Out of 18 analysts tracking the company, 13 maintain a 'buy' rating, four recommend a 'hold,' and one suggests 'sell,' according to Bloomberg data. The average 12-month consensus price target implies a potential upside of 0.1%.
Meanwhile, the shares of Lodha Developers settled 0.44% lower at Rs 1442.3 apiece on the NSE. The stock has risen 3.81% on a year-to-date basis, and is up 0.31% in the last 12 months. Out of 26 analysts tracking the company, 13 maintain a 'buy' rating, nine recommend a 'hold,' and four suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies a potential upside of 3.9%.
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