Tata AIA Life picks Rs 145 crore shares in Zen Tech
Bajaj Allianz Life Insurance coverage Firm, Kotak Mahindra Life Insurance coverage Firm, Morgan Stanley Asia Singapore Pte, Societe Generale, Franklin Templeton Mutual Fund and HDFC Mutual Fund purchased greater than 80 lakh fairness shares, equal to 7.92 % of paid-up fairness in Fusion Micro Finance through open market transactions on December 14.
These institutional buyers purchased the shares for Rs 555.6 per share, valuing the overall buy at Rs 444.54 crore.
Nonetheless, promoters Honey Rose Funding and Creation Investments Fusion, LLC bought 1,02,99,021 fairness shares, equal to 10.2 % of paid-up fairness within the microfinance establishment on the similar worth valued at Rs 572.2 crore.
Fusion Micro Finance shares rallied 6 % to Rs 596.5 on the NSE.
Onward Applied sciences was additionally in motion, rising almost 20 % to Rs 684.20. Institutional buyers WhiteOak Capital Mutual Fund, White Oak India Fairness Fund IV, Ashoka India Fairness Funding Belief Plc and India Acorn Fund purchased 10,99,700 fairness shares or 4.9 % of paid-up fairness within the software program firm for Rs 563.75 per share valued at Rs 62 crore.
Nonetheless, promoter entity Onward Software program Applied sciences was the vendor on this deal.
Senco Gold additionally noticed shopping for curiosity, rising 2 % to Rs 760.5 regardless of a stake sale by an alternate funding fund. As per the majority offers knowledge, Oman India Joint Funding Fund II, the alternate funding fund, bought 6 lakh fairness shares or 0.77 % stake within the gold jewelry firm at Rs 746.19 per share.
The stake sale was valued at Rs 44.77 crore. Oman India held a 3.43 % stake in Senco as of September 2023.
Story continues under Commercial
Zen Applied sciences shares climbed 2.75 % to Rs 535 on the NSE after a giant block deal. Tata AIA Life Insurance coverage bought 20 lakh fairness shares, equal to a 2.38 % stake within the firm at Rs 725 per share. The overall buy is valued at Rs 145 crore.
Nonetheless, promoter Tara Dutt Atluri bought 15 lakh shares or a 1.78 % stake in Zen on the similar worth amounting to Rs 108.75 crore.
