Electronics Mart Ltd.’s shares had a block deal on Friday, leading it to rise as much as 8% before falling from the initial high. According to data available on the exchanges, the block sale includes the exchange of up to 3.1 crore shares of the company, accounting for 8% of total stock.
The entire transaction value is ₹712.6 crore. Shares were exchanged for an average of ₹232 per share. Buyers and sellers in the deal are not yet known.
At the end of the June quarter, Electronics Mart’s promoters held a 72.97% ownership stake in the company.
As of June 30, domestic mutual funds in India, including Motilal Oswal, Mirae, Nippon Life India and HSBC, have a 16.43% ownership share in Electronics Mart.
Foreign portfolio investors own 4.95% of Electronics Mart, leaving the entire free float at slightly under 5%.
As of 10:40 am, Electronics Mart shares were trading 2.65% higher at Rs 236.27 on the NSE.
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