New Delhi, Feb 22 (PTI) Lunolux Ltd, promoter of Eureka Forbes, on Thursday divested a 10 per cent stake in the home appliances company for Rs 979 crore through an open market transaction.
Aditya Birla Sun Life Insurance, Plutus Wealth Management LLP, Goldman Sachs, Morgan Stanley Asia Singapore Pte, Societe Generale, Cassini Partners LP, Bofa Securities Europe SA, and Hill Fort India Fund LP were among the buyers of the said Eureka Forbes’ shares.
According to the bulk deal data available with the BSE, Lunolux Ltd offloaded 1,93,47,924 shares, amounting to a 10 per cent stake in Eureka Forbes.
The shares were disposed of at an average price of Rs 506.06 apiece, taking the transaction size to Rs 979.12 crore.
Lunolux Ltd is an affiliate of US-based private equity firm Advent International.
Further, Lunolux Ltd sold 1,79,31,879 shares in 20 tranches, representing a 9.3 per cent stake in Eureka Forbes, as per the block deal data on the BSE.
The shares were offloaded at an average price of Rs 504.95 apiece, taking the deal value to Rs 905.47 crore.
At the end of December 2023, promoter Lunolux Ltd owned 72.56 per cent stakeholding in Eureka Forbes.
Shares of Eureka Forbes plunged 3.55 per cent to close at Rs 491.95 apiece on the BSE on Thursday.
On February 14, health and hygiene products maker Eureka Forbes reported a three-fold rise in consolidated net profit at Rs 22.97 crore for December quarter of FY24, helped by volume gains and improvement in margins.
The company had clocked a profit of Rs 6.85 crore in October-December FY23.
Revenue from operation was up at Rs 539.43 crore, as against Rs 473.51 crore earlier.
In September 2021, Advent International acquired a majority stake in Eureka Forbes from Shapoorji Pallonji Group for Rs 4,400 crore.
In a separate bulk deal on the NSE, Mathew Cyriac acquired shares of private sector lender RBL Bank for Rs 87 crore through an open market transaction.
Cyriac is the Co-founder and Chairman designate of Mumbai-based alternative asset manager Florintree Advisors.
Mathew Cyriac purchased 32.75 lakh shares of RBL Bank at an average price of Rs 265.58 apiece, taking the deal size to Rs 86.98 crore.
Details of the sellers could not be ascertained.
Shares of RBL Bank rose 3.15 per cent to close at Rs 266.60 apiece on the NSE. PTI HG DRR
