Block deal alert: PVR Inox, PB Fintech, and KFin Technologies are in the spotlight today

PVR Inox 

PVR Inox Limited, India’s largest multiplex operator, is in the spotlight today following a block deal that occurred in the pre-open market. Approximately 2.33% equity of the company, equating to nearly 22.87 lakh shares, was involved in the block deal. The buyers and sellers in this transaction are presently unknown.

The offered price for the sale was approximately Rs 1,753 per share, reflecting a 2% discount from the last traded price of Rs 1790.7. The total value of this transaction is approximately Rs 401 crore.

CNBC-TV18 reported on Thursday that Plenty Private Group and Multiples Private Group are expected to divest a collective 2.33% stake in PVR Inox. According to the report, Kotak Securities has been appointed as the banker for this deal.

PVR-Inox Ltd came into existence following the merger of two prominent cinema brands, PVR Ltd and Inox Leisure. The merger officially took effect on February 6 this year. Presently, encompassing its property in Colombo, the company operates 1,711 screens spread across 359 properties in 114 cities across India and Sri Lanka.

At the start of the day, the company’s stock commenced trading at Rs 1,798.95 per share on the BSE, marking a 1.63% increase from the previous day’s closing price of Rs 1,769.95 per share. As of the time of writing this article, it is trading at Rs 1,773.30, almost unchanged from the previous day’s closing price. The current market capitalisation of the company stands at Rs 17,401 crore. Additionally, the stock has yielded a moderate return of 7.5% over the past month but has shown a negative return of approximately 2% in the past year.

PB Fintech Limited 

On Friday, PB Fintech, the company that operates Policybazaar, witnessed a nearly 6% surge in its shares, reaching a high of Rs 853.55 on the BSE, possibly due to a block deal involving a transfer of 2.5% equity. The buyers and sellers in this transaction are presently unknown.

At the beginning of the day, the company’s stock commenced trading at Rs 801.20 per share on the BSE, in comparison to the previous day’s closing price of Rs 808.10 per share. As of the time of writing this article, it is trading at Rs 811.40 per share on the BSE, almost unchanged from the previous day’s closing price. The current market capitalization of the company stands at Rs 36,747 crore. Additionally, the stock has delivered a moderate return of 6.6% over the past month but has demonstrated an impressive return of approximately 80% in the past year.

KFin Technologies

A substantial block deal occurred in KFin Technologies shares today. According to a previous report, the company’s promoter, General Atlantic Singapore Fund, intended to sell a 10% ownership stake. Presently, it holds a 49.12% stake in the company.

The floor price stands at Rs 490, representing an 8% discount from Thursday’s closing stock price. The offer size ranges between Rs 515-833 crore, and a 90-day lock-in period is applicable.

At the beginning of the day, the company’s stock commenced trading at Rs 517 per share on the BSE, in comparison to the previous day’s closing price of Rs 532.25 per share. As of the time of writing this article, it is trading at Rs 503.55 per share on the BSE, which is 5.4% down from the previous day’s closing price. The current market capitalisation of the company stands at Rs 8,596 crore. Additionally, the stock has delivered a negative return of 3.7% over the past month but has demonstrated an impressive return of approximately 40% in the past six months.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.