Mumbai, India – India's stock market witnessed significant activity on Wednesday as fintech firm Pine Labs Ltd and healthcare provider Aster DM Quality Care Ltd (formerly Aster DM Healthcare Ltd) executed block deals totaling nearly Rs 900 crore.
Pine Labs Sees Over Rs 549 Crore in Transactions
In the case of Pine Labs, approximately 3.1 percent of the company's equity changed hands across multiple block trades. National Stock Exchange (NSE) data indicates that 3,54,56,317 shares of Pine Labs were traded at Rs 155.10 apiece, accumulating to a total transaction value of Rs 549.93 crore.
This deal price represented a 3 percent discount compared to Pine Labs' closing price of Rs 159.89 on Tuesday. Reports from CNBC-TV18 suggested that investment firms Alpha Wave Ventures II LP and Alpha Wave India I LP were looking to offload their entire stake in the fintech company, estimated at around 3.2 percent of total equity, for approximately Rs 560.30 crore at a floor price of Rs 153.5 per share.
Aster DM Healthcare Records Rs 350 Crore Block Trade
Meanwhile, Aster DM Quality Care Ltd also saw substantial block deal activity. A total of 46,09,800 shares of the healthcare entity were traded at Rs 760 each, amounting to Rs 350.34 crore. Notably, this transaction price reflected a 0.29 percent premium over Tuesday's closing price of Rs 757.80, indicating strong buying interest.
This follows previous block deals for Aster DM in August, where Centella Mauritius, an investment vehicle controlled by affiliates of TGP Inc, sold approximately 6.24 crore company shares, or a 7.2 percent stake, at a floor price of Rs 766.10 apiece through Citi.
A separate report by Bloomberg mentioned block deals involving HDFC Bank shares, with 24.6 lakh shares reportedly changing hands. However, Business Today could not independently verify this data at the time of reporting.