Key Highlights

• Siddhant Commercials sells 85 lakh Asian Paints shares (0.9%) via NSE block deal—₹1,876 cr to ICICI Prudential MF.
• Vishal Mega Mart promoter Samayat Services LLP to sell 10% stake (₹5,057 cr) at ₹110 per share discount.

Siddhant Commercials, a Reliance Industries group entity, sold 85 lakh shares of Asian Paints in a block deal on the NSE, raising approximately ₹1,876 crore. This block comprised 0.9% of Asian Paints' equity. According to the NSE website, ICICI Prudential Mutual Fund paid ₹2,207 per share to acquire the entire stake.

This transaction highlights noteworthy movements by large institutional investors and is a prime example of the dynamic activity in the equity markets. Reliance's strategic decision on reorganizing its investment portfolio aligns with its strategic decision to sell this stake. ICICI Prudential Mutual Fund showed its belief in Asian Paints' growth potential by purchasing these shares.

The announcement by Samayat Services, the promoter of Vishal Mega Mart, that it would sell roughly 10% of its ownership in the store was another noteworthy development. The sale, valued at more than ₹5,000 crore, is expected to be completed through block transactions. At ₹110 per share, the block is currently trading 12% below Monday's closing price.

Also Read: Reliance Industries to Sell Entire Stake in Asian Paints After 17 Years

The proposed divestment by Samayat Services draws attention to the continuous reorganization of promoters in the retail industry in India and may also encourage substantial involvement from institutional and individual investors. The dynamism of the Indian equity markets is evident in both transactions.