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Carlyle, TPG and Major Shareholders to Offload Rs3,480 Crore in Block Deals on June 4

They will use open market transactions for exits in sectors ranging from pharmaceuticals to fashion retail

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Top stocks in news: Scoda Tubes, YES Bank, Tata Tech, Indegene, ABFRL, HDFC Bank, Wipro, GRSE

Overview

  • Four block deals totalling Rs3,480 crore will be executed on June 4 through open market transactions.
  • Carlyle affiliate CA Dawn Investments will sell its entire 10.2% stake in Indegene Ltd. at a floor price of Rs580 per share.
  • TPG Rise Climate SF Pte plans to offload 85 lakh shares, representing a 2.1% stake in Tata Technologies Ltd., in transactions valued up to Rs654 crore.
  • Promoter Jayanti Sinha will divest a 1.42% holding in Alkem Laboratories Ltd. for approximately Rs824 crore; Flipkart Investments is set to sell its full 6% stake in Aditya Birla Fashion & Retail Ltd. for at least Rs582 crore.
  • Other notable corporate moves include Yes Bank’s board approval for a Rs16,000 crore debt and equity raise; Wipro’s multiyear contract with identity-centric security firm Entrust; and Zydus Lifesciences’ $75 million purchase of two US biologics manufacturing facilities from Agenus.