OFI Global China Fund sells entire stake in ZEEL for ₹1,004 crore through block deal

as per BSE block deal Data, OFI Global China Fund sold 49,112,015 equity shares or 5.11% in ZEEL 204.50 per share. This transaction has been collected 1,004.34 crores.

OFI Global China Fund is one of the largest public shareholders seal,

On the other hand, Morgan Stanley Asia Singapore bought a total of 1.58 crore equity shares of ZEEL. 204.50 each — grand total approx 323.83 cr.

Meanwhile, Goldman Sachs Singapore Pte ODI bought around 64.20 lakh shares 131.3 crores. Seganti India Mauritius buys 9,019,998 equity shares 184.5 crores.

On BSE, ZEEL’s share closed at Rs. 203.80 each, down 2.11%. The stock was near its day’s low 201.70 each. Overall, the stock fell 3.12% on the exchange.

ZEEL’s market cap as on 17th April is close to 19,575 crores.

Earlier, it was known that OFI Global China Fund, LLC and other funds managed by Invesco’s Developing Markets equity investment team would sell shares in ZEEL.

According to Trendline data, promoters’ pledges remained unchanged at 5.38% in the March 2023 quarter. While the promoters’ stake also remained unchanged at 3.99% at the end of the quarter. However, FPI/FII reduced their holding from 37.33% to 36.39% in Q4 of FY23.

Also, the data revealed that the number of foreign investors has come down to 345 in Q4FY23 from 362 earlier.

Additionally, institutional investors also declined to 74.58% in Q4FY23 from 74.81% earlier.

On the other hand, in Q4FY23, mutual funds increased their holding in ZEEL shares to 27.88% in Q4FY23 from 26.84% in the previous quarter.