Bulk Deals: Singapore Govt offloads Phoenix Mills stake for Rs 670 cr, WSI WSQI exits Shriram Properties

Bulk Deals: Singapore Govt offloads Phoenix Mills stake for Rs 670 cr, WSI WSQI exits Shriram Properties

Government of Singapore held 4.28 percent shareholding in Phoenix Mills as of December 2022.

Sunil Shankar Matkar

March 31, 2023 / 08:57 PM IST

Shares were sold in the retail mall developer and operator at an average price of Rs 1,300.15 a piece, taking the total transaction cost to Rs 669.54 crore

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Foreign portfolio investor Government of Singapore has sold nearly 3 percent shareholding in The Phoenix Mills via open market transactions, while foreign investor WSI WSQI exited Shriram Properties on March 31.

Government of Singapore has sold 51.49 lakh equity shares or 2.88 percent stake in The Phoenix Mills, as per bulk deals data available on the NSE.

Shares were sold in the retail mall developer and operator at an average price of Rs 1,300.15 a piece, taking the total transaction cost to Rs 669.54 crore. Government of Singapore held 4.28 percent shareholding in the company as of December 2022.

Phoenix Mills’ share price settled at Rs 1,300.95 on the NSE, down nearly 3 percent, may be due to large chunk of share sale.

Among other deals, France-based financial services company Societe Generale bought 6.2 lakh shares in construction company PSP Projects at an average price of Rs 664.35 per share, amounting to Rs 41.2 crore.

However, promoter Shilpaben Prahaladbhai Patel was the seller in PSP, offloading same number of shares. The stock closed flat at Rs 670.90.

Shriram Properties was also in focus, rising nearly 10 percent to Rs 60.85, may be due to big stake acquired by Navi Mumbai-based real estate developer Aurum RealEstate Developers.

Aurum RealEstate Developers has bought 2.42 crore equity shares or 14.27 percent stake in Shriram Group company, at an average price of Rs 55.05 per share, amounting to Rs 133.5 crore.

However, foreign company WSI WSQI V (XXXII) Mauritius Investors completely exited Shriram Properties by selling entire shareholding of 2.42 crore shares at same average price.

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