GQG Partners has picked up 1.7 crore Ambuja Cements shares at Rs 625.5 per share, which totals to Rs 1,068 crore, through an open market transaction on Friday.
At the same time, GQG Partners Emerging Markets Equity Fund bought 2.68 crore shares, or 1.08% stake, for Rs 625.5 apiece, according to the bulk deal data on NSE.
Adani Group promoter arm Holderind Investments sold a 2.8% stake, or 6.79 crore shares, for Rs 4,250 crore in Ambuja Cements.
Buyers include SBI Life Insurance Co., which purchased 79.9 lakh shares, or 0.32% stake, while the National Pension System Trust acquired 71.9 lakh shares, or 0.29% stake, at Rs 625.5 apiece.
Morgan Stanley Asia Singapore Pte. and Norges Bank On Account of the Government Pension Fund Global were also among the buyers in the trade.
Holderind Investments Ltd., a company owned by billionaire Gautam Adani and his family, plans to divest 2.84% of the equity, valuing the deal at Rs 4,197.8 crore at the floor price, according to the terms of the deal viewed by NDTV Profit.
The transaction is part of a strategic group portfolio management move aimed at diversifying the shareholder base and attracting long-only investors, particularly those interested in infrastructure assets.
Shares of Ambuja Cements closed 0.10% higher at Rs 633.55 apiece on the BSE, compared to a 0.04% rise in the Sensex.
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