SBI Mutual Fund Sells 4.7% Stake In National Highways Infra Trust For Rs 815 Crore

SBI Mutual Fund sold a 4.7% stake in National Highways Infra Trust on Thursday, raising Rs 815 crore through an open market transaction.

The NHIT, established in 2021 and sponsored by the National Highways Authority of India, supports the National Monetisation Pipeline.

As per data from the National Stock Exchange, SBI Mutual Fund sold over 6.10 crore NHIT units, reducing its stake from 9.34% to 4.69%. The units were sold at an average price of Rs 133.50 each, totalling Rs 814.7 crore.

Meanwhile, Larsen & Toubro and Vidyaniti LLP acquired nearly 5.99 crore NHIT units for Rs 799 crore. L&T bought 2.24 crore units (1.71% stake), and Vidyaniti LLP purchased 3.74 crore units (2.85% stake), both at the same price, aggregating Rs 798.99 crore. The identities of other buyers remain unclear.

NHIT units rose 1.14% on Thursday, closing at Rs 133.50 on the NSE. Additionally, the Competition Commission of India recently approved NHIT Southern Projects' acquisition of concession rights for 11 road projects from NHAI under the Toll-Operate-Transfer model. The agreement grants operational control for 20 years.

NHIT Southern Projects is a special-purpose vehicle and wholly owned subsidiary of NHIT.

In a separate bulk deal on the NSE, Bajaj Finance offloaded 25.27 lakh shares of AGS Transact Technologies for nearly Rs 3 crore through an open market transaction.

As per the data, Bajaj Finance Ltd sold the shares of AGS Transact Technologies at an average price of Rs 11.34 per piece, taking the deal value to Rs 2.86 crore.

Details of the buyers of AGS Transact Tech's shares could not be identified on the NSE.

Shares of AGS Transact Technologies declined 4.80% to settle at Rs 11.30 apiece on the NSE.

(With PTI Inputs)