Societe Generale buys Bandhan Bank shares worth Rs 382 crore, Goldman Sachs picks 1.2% stake in Spandana Sphoorty

Promoter Padmaja Gangireddy has sold 12.5 lakh equity shares or 1.76 percent stake in Spandana Sphoorty Financial at an average price of Rs 830.15 per share.

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Europe-based financial services group Societe Generale bought more than Rs 382 crore worth of equity shares in private sector lender Bandhan Bank via open market transactions on July 31.

Societe Generale has acquired a total of 1.74 crore equity shares or 1.08 percent stake in the Kolkata-based bank, of which 89.23 lakh shares were bought on the NSE and 85.52 lakh shares on the BSE, as per bulk deals data available on the exchanges.

The average buying price for the above shares was Rs 218.6 per share, and the stake buy amounted to Rs 382.01 crore.

Bandhan Bank shares rallied nearly 3 percent to close at Rs 223.4, with above-average volumes.

Microfinance institution Spandana Sphoorty Financial was also in focus on Monday, falling nearly 3 percent to Rs 820 amid large volumes. Promoter Padmaja Gangireddy has sold 12.5 lakh equity shares or 1.76 percent stake in the company at an average price of Rs 830.15 per share.

Goldman Sachs was the buyer for some of those shares. Goldman Sachs Funds Goldman Sachs India Equity Portfolio purchased 3.57 lakh shares and Goldman Sachs Collective Trust – Emerging Markets Equity ex-China Fund bought 4.68 lakh shares in Spandana Sphoorty, which is equivalent to 1.16 percent of paid-up equity. The average buying price for these shares was Rs 830 per share, and the stake buy was worth Rs 68.54 crore.

We have also seen extremely high volumes in Eris Lifesciences which climbed over 2 percent to Rs 792. Plutus Wealth Management LLP bought 10 lakh shares in the pharma company at an average price of Rs 783 per share, and 12.1 lakh shares at an average price of Rs 783.03 per share. The total equity stake bought was equivalent to 1.62 percent of paid-up equity and was worth Rs 173 crore.

However, high net-worth individual Shah Rakesh was the seller in this deal, offloading another 20 lakh shares or 1.47 percent stake in Eris at an average price of Rs 783 per share, which were worth Rs 156.6 crore.

So far in July, Shah Rakesh has sold a total of 56 lakh shares or 4.11 percent stake in Eris, against its shareholding of 11.53 percent or 1.56 crore shares as of June 2023.

Jeena Sikho Lifecare was also in focus on Monday, rising 3.8 percent to Rs 737.8. Foreign investor Societe Generale has bought 2.75 lakh shares in the ayurveda based healthcare company at an average price of Rs 736.17 per share, however, investor Oregano Life sold 2.81 lakh shares in the company at an average price of Rs 736.55 per share.

Oregano Life held 13.85 lakh shares or 10.03 percent stake in the company as of April 19, 2023.