Bulk Deals | British International Investment exits Rainbow Children’s Medicare; Sequoia Capital offloads stake in Go Fashion

Rainbow Children’s Medicare shares sold by British International Investment were worth Rs 1,078.48 crore. The stock corrected nearly 2 percent on December 5.

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The UK’s British International Investment Plc has exited healthcare company Rainbow Children’s Medicare by selling entire shares via open market transactions on December 5.

CDC India Opportunities, owned by British International Investment Plc, sold 50.33 lakh shares at an average price of Rs 735 per share, and CDC Group PLC, which is now known as British International Investment Plc, offloaded 96.32 lakh shares at an average price of Rs 735.55 per share, as per bulk deals data available with exchanges.

Total shares sold by British International Investment Plc were worth Rs 1,078.48 crore. The stock corrected nearly 2 percent on December 5.

However, five investors participated in the block deal and bought shares worth Rs 571 crore of Rainbow Children’s Medicare.

Government of Singapore bought 21.1 lakh shares, ICICI Prudential Mutual Fund purchased 17.7 lakh shares, Stichting Depositary APG Emerging Markets Equity Pool acquired 22.56 lakh shares, and India Acorn ICAV – Ashoka India Opportunities Fund purchased 7.22 lakh shares. The average buying price was Rs 735 per share. Abu Dhabi Investment Authority also bought nine lakh shares at an average price of Rs 741.25 per share.

Among other bulk deals, promoter Srinivasan Trust has offloaded a stake worth Rs 262 crore in TVS Motor Company, the two-wheeler and three-wheeler maker. The promoter sold 25.69 lakh shares in TVS at an average price of Rs 1,020 per share.

Venture capital firm Sequoia Capital India Investments IV sold 20 lakh shares in Go Fashion India, a women’s bottom-wear brand in India, at an average price of Rs 1,140.14 per share, which were worth Rs 228.02 crore. The stock fell 5 percent to close at Rs 1,136.6.

However, Canara Robeco Mutual Fund via Canara Robeco Small Cap Fund bought 3.2 lakh shares in Go Fashion at an average price of Rs 1,140 per share, which were worth Rs 36.48 crore.

Promoter entity Inox Leasing and Finance has sold 18 lakh shares in Gujarat Fluorochem at an average price of Rs 3,275.44 per share. The shares sold were worth Rs 589.58 crore. The stock declined nearly 6 percent to Rs 3,249.

Ace investor Porinju Veliyath-owned firm Equity Intelligence India sold 6.5 lakh shares or 0.9 percent stake in Hindware Home Innovation at an average price of Rs 380.22 per share. The stock gained 4 percent at Rs 392.3.

Equity Intelligence as of September 2022 held a 1.05 percent stake in the company.

However, AL Mehwar Commercial Investments LLC bought 7.72 lakh shares in Hindware at an average price of Rs 380 per share.

Meridian Chem Bond sold 48.06 lakh shares in Karur Vysya Bank at an average price of Rs 96.11 per share.