Bulk deals | Promoter Sion Investment Holdings sells 19.43% stake in CMS Info Systems

CMS Info Systems shares fell more than 7 percent to Rs 363 on the NSE.

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Promoter Sion Investment Holdings has offloaded shares worth more than Rs 1,000 crore in CMS Info Systems, via open market transactions, on August 10. The stock fell more than 7 percent to Rs 363 on the NSE.

The promoter has sold 3 crore equity shares, which is equivalent to 19.43 percent of paid-up equity, in the cash management and payment solutions company, at an average price of Rs 357.17 per share, as per the bulk deals data available on exchanges.

The stake sale amounted to Rs 1,071.51 crore.

Sion Investment held 46.48 percent shareholding in CMS Info Systems as of June 2023.

However, there were several buyers in the block deal, which took place in the morning. Societe Generale, Abu Dhabi Investment Authority Stable, Public Sector Pension Investment Board, Massachusetts Institute of Technology, Nomura India Investment Fund Mother Fund, Nomura Funds Ireland Public Ltd Coindia Equity Fund, Goldman Sachs Funds – Goldman Sachs India Equity Portfolio, Goldman Sachs Collective Trust Emerging Markets Equity ex-China Fund, Aditya Birla Sun Life Mutual Fund A/C – Aditya Birla Sun Life Digital India Fund, and ICICI Prudential Mutual Fund bought more than half of shares sold by Sion in the block deal.

They bought a total of 1.52 crore equity shares or a 9.85 percent stake in CMS. The average buying price for shares bought by Societe Generale was Rs 356.03 per share, while the same was Rs 356 per share for the rest of the buyers in the deal.

Dreamfolks Services was also in action, falling nearly 14 percent to Rs 564. Aditya Birla Sun Life Mutual Fund has offloaded 4.51 lakh equity shares or 0.85 percent stake in the airport service aggregator company.

The average selling price was Rs 577.06 per share. The mutual fund house held a 2.49 percent stake in Dreamfolks as of June 2023.

We have also seen a significant surge in volumes of Tata Motors and the stock was down 0.7 percent at Rs 618.25 on the NSE. Citibank NA has sold 3.49 crore equity shares or a 1 percent stake in the country’s largest commercial vehicle maker at an average price of Rs 598.77 per share. The total stake sale amounted to Rs 2,085.7 crore.

Citibank NA New York, Nyadr Department, which is under the overseas depositories category (holding depositories) in the shareholding pattern, held 1.38 percent or 4.57 crore equity shares in the Tata Group company as of June 2023.

Piramal Pharma was also in action, rising 0.2 percent to Rs 99.55. BNP Paribas Arbitrage has bought 8.39 lakh shares in the pharma company at an average price of Rs 16.09 per share. However, Life Insurance Corporation of India sold 16.57 lakh shares at an average price of Rs 15.65 per share.