Block Deal Notification: Up to 3% Stake Sales Observed in Aditya Birla Lifestyle and Aditya Birla Fashion

Block Deal Notification: Up to 3% Stake Sales Observed in Aditya Birla Lifestyle and Aditya Birla Fashion

On Tuesday, January 20, two companies from the Aditya Birla Group are expected to see block deals, as undisclosed institutional investors aim to reduce their holdings, sources informed CNBC-TV18.

In Aditya Birla Lifestyle Brands Ltd, an institutional investor is likely to offload as much as 3% of equity in a block deal, with a total offer size estimated at $43 million. The floor price is set at ₹106.14 per share, which reflects an 8.4% discount from the most recent closing price. According to sources, this transaction is anticipated to be a clean-out trade.

Meanwhile, in Aditya Birla Fashion and Retail Ltd (ABFRL), another undisclosed institutional investor is expected to sell up to 3% of its stake via a block deal. The estimated size of this offer is $32 million, with a floor price of ₹65.78 per share, indicating an 8.5% discount to the current market price of ₹71.89. This deal is also characterized as a clean-up trade, per sources.

In October, Flipkart Investments Pvt Ltd divested a 6% stake in Aditya Birla Lifestyle Brands Ltd for around ₹998 crore through a block deal on the exchanges. As per exchange data, the shares were sold at an average price of ₹136.45 each, representing a 7% discount relative to the stock’s closing price at that time.

On Monday, January 19, shares of Aditya Birla Fashion and Retail Ltd closed slightly higher by 0.04% at ₹71.33 on the NSE, while shares of Aditya Birla Lifestyle Brands Ltd finished marginally lower at ₹116.

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