Stocks of Mphasis, Emcure Pharmaceuticals and Paytm saw block deals worth over ₹6,800 crore on Tuesday, with private equity firms selling significant chunks of their holdings in the companies.
Blackstone’s affiliate BCP TOPCO IX PTE, which held a little over 40 per cent in Mphasis as of September-end, offloaded about 9.5 per cent through a block deal for ₹4,726 crore, according to exchange data. The shares were sold at ₹2,625.59 apiece.
Snapped up
The shares were snapped up by mutual funds such as Kotak MF, HDFC MF and ICICI Pru MF.
SAIF Partners and SAIF III Mauritius collectively sold 1.9 per cent stake in Paytm for ₹1,553 crore. The entities held over 15 per cent stake at the end of the second quarter.
When Blackstone initially acquired stake in Mphasis in 2016, it was at ₹430 per share. It later switched funds to make a fresh recommitment. Last year in June, it sold over 15 per cent in the tech company at ₹2,363 per share.
Bain Capital sold 2.4 per cent stake in Emcure Pharmaceuticals for ₹610 crore, in two separate block deals of 23 lakh shares each. The PE firm had held 6.3 per cent stake in Emcure at the end of September.
The exchange did not disclose the names of the buyers, but market sources said that some domestic funds had been the buyers.
Emcure, which makes injectables, biotherapeutics and orals was listed on the bourses in July last year. Bain Capital, which held a little over 13 per cent stake prior to the IPO, had been one of the sellers in the public issue.