11 hrs ago
Pine Labs Stake Sale Drives Rs 900 Crore Block Deals
Pine Labs had a large share trade on Wednesday.
About 3.1% of the company changed owners in two deals.
More than 35.4 million shares were traded.
Each share was sold for Rs 155.10.
The total value of the Pine Labs trade was about Rs 550 crore.
This price was lower than Pine Labs’ previous closing price.
A report said two Alpha Wave funds were considering selling their full stake in Pine Labs.
Aster DM Quality Care was also reported to have a block trade, but the article did not provide details about that transaction.
Pine Labs Ltd and Aster DM Quality Care Ltd were reported to have seen block deals worth nearly Rs 900 crore on Wednesday.
About 3.1% of Pine Labs changed hands across two blocks, according to NSE data.
A total of 3,54,56,317 Pine Labs shares traded at Rs 155.10 each, worth Rs 549.93 crore.
The Pine Labs deal price was 3% below the company’s previous closing price of Rs 159.89.
CNBC-TV18 reported that Alpha Wave funds were considering selling their entire Pine Labs stake for Rs 560.30 crore, representing about 3.2% of equity.
- Who
- Pine Labs Ltd, Aster DM Quality Care Ltd, and reportedly Alpha Wave Ventures II LP and Alpha Wave India I LP.
- What
- Block trades worth nearly Rs 900 crore were reported, including a Pine Labs transaction involving about 3.1% of its shares.
- Where
- The trades were reported through NSE data; the article does not specify a physical location.
- When
- Wednesday; the article does not provide an exact date.
- Why
- The Pine Labs transaction was reportedly linked to Alpha Wave funds considering a sale of their entire stake.
Key facts
- Pine Labs shares traded
- 3,54,56,317 shares
- Pine Labs transaction value
- Rs 549.93 crore
- Pine Labs stake changed hands
- About 3.1%
- Pine Labs deal price
- Rs 155.10 per share
- Discount to previous close
- 3%
- Previous closing price
- Rs 159.89
- Reported Alpha Wave sale value
- Rs 560.30 crore
Sources
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