Bulk Deals: Quant MF buys 2.15% in IKIO Lighting, Canada-based pension fund sells nearly Rs 100 crore shares in Piramal Pharma

LED lighting solutions manufacturer IKIO Lighting had a stellar debut on the bourses, rising 41.7 percent to settle at Rs 403.75.

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Quant Mutual Fund has acquired more than 2 percent equity stake in IKIO Lighting on its listing day, while a Canada-based pension fund has sold nearly Rs 100 crore shares in Piramal Pharma via open market transactions on June 16.

As per the bulk deals data available with exchanges, Quant Mutual Fund via Quant Quantamental Fund acquired 6.01 lakh shares in IKIO Lighting while another 6.02 lakh shares were bought by its Quant Multi Asset Fund, totalling to 12.03 lakh shares or a 2.15 percent stake.

The average buying price for above shares in the LED lighting solutions manufacturer was Rs 409.08 per share. The stock had a stellar debut on the bourses, rising 41.7 percent to settle at Rs 403.75.

Among other bulk deals, Caisse De Depot Et Placement DU Quebec, the second largest pension fund in Canada, has sold 1.05 crore equity shares or 0.88 percent stake in Piramal Pharma at an average price of Rs 94.48 per share, amounting to Rs 99.86 crore.

Cassie De Depot held 5.53 percent stake or 6.59 crore shares in the company as of March 2023.

However, US-registered investment advisor The Vanguard Group Inc, via Vanguard Total International Stock Index Fund, acquired 62.02 lakh shares in the pharmaceutical business owned by Ajay Piramal’s Piramal Group, at an average price of Rs 94.71 per share.

Piramal Pharma shares climbed 2.66 percent to Rs 94.60.

Aavas Financiers was also in focus on June 16. Foreign portfolio investor Small Cap World Fund Inc offloaded 7.08 lakh equity shares or 0.9 percent equity stake in the Jaipur-based housing finance company.

These shares were sold at an average price of Rs 1,350.02 per share and were worth Rs 95.71 crore. Smallcap World Fund held 7.99 percent stake or 63.18 lakh shares in the company as of March 2023.

Kalyan Jewellers India rallied nearly 15 percent to Rs 131.10 despite Warburg Pincus offloading more than 6 percent equity shareholding in the jewellery company that it backs.

Highdell Investment, which was backed by the US-based private equity major Warburg Pincus, sold 6.41 crore equity shares or 6.2 percent stake in Kalyan Jewellers at an average price of Rs 113.1 per share. This foreign investor held 23.82 percent stake or 24.53 crore shares in the company as of March 2023.

On the other side, Nomura India Investment Fund Mother Fund, Franklin Templeton Mutual Fund via Franklin India Flexi Cap Fund, and BNP Paribas Arbitrage were the buyers for some of those shares, acquiring in total 3.39 lakh shares or 3.3 percent stake in the jewellery company at same price.

Moneycontrol was the first to report the names involved in Kalyan Jewellers’ block deals

IIFL Finance was also in focus. DSP Mutual Fund has bought 50 lakh equity shares or 1.31 percent shareholding in IIFL Finance, the financial services company, at an average price of Rs 500 per share. The stock climbed 2.8 percent to Rs 512.65.

However, foreign company FIH Mauritius Investments, the biggest public shareholder in IIFL, was the seller in this deal. As of March 2023, it held 8.46 crore shares or 22.25 percent shareholding in the company.