Bulk Deals | ICICI Prudential, BNP Paribas Arbitrage, Kuwait Investment Authority Fund and Societe Generale pick 4.5% stake in Go Fashion

Sequoia Capital exits Go Fashion. The women’s apparel manufacturer’s shares correct nearly 5 percent to Rs 1,136.7

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ICICI Prudential Life Insurance Company, BNP Paribas Arbitrage, Kuwait Investment Authority Fund 223, and Societe Generale bought a 4.52 percent equity stake in Go Fashion India, via open market transactions on June 12.

As per bulk deals data available with exchanges, the above four investors have acquired a total of 24.44 lakh equity shares in the women’s apparel manufacturer at an average price of Rs 1,135 per share, which amounted to Rs 277.4 crore.

However, Sequoia Capital India Investments IV was the seller that exited Go Fashion. It offloaded the entire 54.98 lakh shares or 10.18 percent stake in the company at an average price of Rs 1,136.1 per share. The stock corrected nearly 5 percent to Rs 1,136.7 after the above open market transactions.

Among other deals, Europe-based financial services group Societe Generale has bought 10.87 lakh shares or half a percent stake in sugar manufacturing company Balrampur Chini Mills. These shares were purchased at an average price of Rs 406.02 per share. The stock settled at Rs 403.55, down a third of a percent.

Societe Generale has also acquired 39.31 lakh shares or 1.06 percent stake in construction company Man Infraconstruction. These shares were bought at an average price of Rs 102 per share. The stock seems to have reacted to the news, rising 3.5 percent to Rs 106.6.

Motilal Oswal Mutual Fund (MOSTF30) has bought 18.5 lakh shares in wire rope manufacturer Usha Martin at an average price of Rs 270.12 per share, which amounted to Rs 50 crore. Usha Martin shares gained more than 5 percent to close at Rs 271.25.

Jyoti Structures was also in focus, falling more than 4 percent to Rs 8.75. Follis Advisory LLP has sold 1.33 crore shares in the construction company at an average price of Rs 8.79 per share, and another 1.41 crore shares at an average price of Rs 8.76 per share.

In total, Follis Advisory LLP offloaded a 4.32 percent equity stake in the company. As of March 2023, its shareholding in the company was 11.82 percent.