SBI Life Insurance Co. and Vidyaniti LLP collectively acquired a 4.25% unit-holding in National Highways Infra Trust for Rs 1,100 crore. Simultaneously, the National Highways Authority of India divested 8.24 crore units in the trust.
The acquisition by SBI Life Insurance and Vidyaniti LLP involved a total of 8.24 crore units, which constitutes a 4.25% unit-holding in the National Highways Infra Trust.
According to the block deal data available on the National Stock Exchange, SBI Life Insurance acquired over 3.74 crore units, representing a 1.93% holding in National Highways Infra Trust.
Based on exchange data, Vidyaniti LLP also purchased more than 4.49 crore units in National Highways Infra Trust, which translates to a 2.3% unit-holding.
The units were acquired at an average price of Rs 133.57 each, resulting in a total transaction value of Rs 1,100.61 crore for the combined purchase.
Concurrently, the NHAI divested 8.24 crore units of NHIT at the same average price, according to data from the NSE.
On Monday, National Highways Infra Trust's units were closed on a flat note at Rs 133.50 a unit on the NSE.
NHIT, an infrastructure investment trust sponsored by the National Highways Authority of India, was set up in 2021 to support the government's National Monetisation Pipeline.
In March, SBI Mutual Fund sold a 4.7% stake in NHIT for Rs 815 crore.
(With Inputs From PTI)
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