Three Jubilant Group companies see block deals worth nearly ₹1,900 crore

Three Jubilant Group companies, Jubilant Pharmova, Jubilant Foodworks and Jubilant Ingrevia have seen block deals take place on Friday, June 13. The total value of the block deals is said to be ₹1,896 crore.

As many as 48.35 lakh shares of Jubilant Pharmova, amounting to 3.04% of the total equity has changed hands in the early minutes of trade. Shares change hands at an average price of ₹1,087 per share, taking the total transaction value to ₹527 crore

For Jubilant Foodworks, 1.06 crore shares worth ₹702 crore changed hands in the pre-open block window. The shares changed hands at an average price of ₹662 per share.

Jubilant Ingrevia saw shares worth ₹667 crore change hands in the pre-open block window. 98.65 lakh shares changed hands in the deal at an average price of ₹676 per share.

Promoters of Jubilant Foodworks were likely to sell 2% of the company's outstanding or 1.32 crore shares in the block deal. Floor price of the block has been fixed at ₹641 per share, CNBC-TV18 had reported yesterday citing sources.

Jubilant Ingrevia's promoters were likely to sell up to 7.5% of the total equity or 1.2 crore shares in this potential block deal. The floor price of this transaction has been fixed as ₹627.45 per share, according to sources.

As many as 56 lakh shares of Jubilant Pharmova were also likely to change hands in the block deal today. That amounts to 3.5% of the outstanding equity of the company. Floor price for this transaction has been fixed as ₹1,013 per share.

Promoters of Jubilant Ingrevia had a 51.47% stake in the company, while they had a 50.68% stake in Jubilant Pharmova. Promoters had a 41.94% stake in Jubilant Foodworks, at the end of the March quarter.

Shares of Jubilant Foodworks have recovered from opening lows, currently trading 0.4% higher at ₹670.37. On the flip side, shares Jubilant Ingrevia are up 5.3% at 718, while those of Jubilant Pharmova are trading little changed.