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The bulk deal data shows Kotak Mahindra Mutual Fund, Svadha India Emerging Opportunities Scheme 1, Abakkus Investment Managers, Abakkus Diversified Alpha Fund, Abakkus MF and Vanaja Sundar among the disclosed buyers in the Axiscades block deal which took place on Wednesday. The stock, which gained 10% on Tuesday, is up another 8% on Wednesday.
Shares of AXISCADES Technologies jumped up to another 10% on Wednesday, September 30, gaining for a second straight session after promoter Jupiter Capital Private Limited sold a 10.69% stake in the company through a block deal on Tuesday.
Jupiter Capital sold 45.49 lakh shares at ₹1,824 per share, taking the transaction value to approximately ₹829.72 crore.
The sale represents 10.69% of AXISCADES' total equity. Jupiter Capital is the company's sole promoter and held 246.82 lakh shares, or 58.03%, before the transaction. Following the sale, its holding would fall to 201.33 lakh shares, or about 47.34%.
Kotak MF, Abakkus among buyers
The bulk deal data shows Kotak Mahindra Mutual Fund, Svadha India Emerging Opportunities Scheme 1, Abakkus Investment Managers, Abakkus Diversified Alpha Fund, Abakkus MF and Vanaja Sundar among the disclosed buyers.
Kotak Mahindra Mutual Fund bought 20.83 lakh shares at ₹1,824 per share, translating into a transaction value of about ₹380 crore.
Abakkus Investment Managers bought 8.60 lakh shares, while Abakkus Diversified Alpha Fund bought 2.41 lakh shares. Abakkus MF bought another 1.88 lakh shares. Together, the three Abakkus entities bought 12.89 lakh shares, worth about ₹235 crore.
Svadha India Emerging Opportunities Scheme 1 bought 8.77 lakh shares, worth about ₹160 crore, while Vanaja Sundar bought 3 lakh shares, valued at ₹54.72 crore.
The transaction was executed at an average price of ₹1,824 per share.
Shareholding pattern
As per the latest shareholding data provided, promoters held 58.03% in AXISCADES Technologies, while public shareholders held 41.97%. Jupiter Capital was the sole promoter, holding 246.82 lakh shares.
Among public shareholders, mutual funds held 1.45%, while more than 43,000 retail investors holding nominal share capital of up to ₹2 lakh collectively owned 20.67%. Bodies corporate held another 6.36%.
Stock performance
Shares of Axiscades Technologies are trading 7.3% higher on Wednesday, having gained 10% on Tuesday as well after the block deal at ₹2,219. The stock made a 52-week high of ₹2,274 intraday, extending its year-to-date advance to 65%.
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HomeMarket NewsAxiscades shares extend gains to 52-week high after big names buy promoter stake in block deal
