Unifi Capital, Blend Fund Buy 3% Stake in GNG Electronics; L&T Entities Pick Up 4.33% in IRB InvIT Fund

A string of large market transactions kept GNG Electronics, IRB InvIT Fund and NDR INVIT Trust in focus on September 30, with institutional investors and corporate entities picking up sizeable stakes through open-market deals. 

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Unifi Capital and its Blend Fund 2 acquired a 3% stake in GNG Electronics from promoter Vidhi S Khandelwal, while four Larsen & Toubro entities collectively bought a 4.33% stake in IRB InvIT Fund. In another transaction, Spark Financial Holdings purchased units of NDR INVIT Trust worth more than Rs 50 crore. 

Unifi Capital, Blend Fund 2 Invest Rs 230.8 Crore in GNG Electronics 

Unifi Capital and Blend Fund 2 bought 34.2 lakh shares of GNG Electronics, representing a 3% stake in the IT and ICT asset refurbisher. 

The shares were acquired for Rs 230.8 crore through open-market transactions, according to block deal data. 

Promoter Vidhi S Khandelwal sold the shares at Rs 674.8 apiece. 

GNG Electronics shares opened higher during the session and eventually closed 1.77% higher at Rs 686.75 on the NSE, even as the stock witnessed some profit booking during the day. 

L&T Entities Acquire 4.33% Stake in IRB InvIT Fund 

Larsen & Toubro, through four entities, acquired a combined 4.33% stake in IRB InvIT Fund from Arvesta Financial Services and Neo Treasury Plus Fund. 

L&T Welfare Company and L&T Employees Welfare Foundation each purchased 1.58 crore units for Rs 100.66 crore. The units were acquired at Rs 63.36 apiece. 

L&T Technology Services bought another 79.57 lakh units at Rs 63.18 each, taking the value of its transaction to Rs 50.27 crore. 

LTM, meanwhile, acquired 1.58 crore units for Rs 100.05 crore at Rs 63.23 per unit. 

Together, the four L&T entities purchased 5.55 crore units of IRB InvIT Fund for Rs 351.65 crore. 

On the selling side, Neo Group-backed Arvesta Financial Services offloaded 3.65 crore units at Rs 63.36 each. The transaction was valued at Rs 231.31 crore. 

Neo Treasury Plus Fund sold another 1.9 crore units at Rs 63.18 per unit for Rs 120.34 crore. 

Spark Financial Holdings Buys NDR INVIT Trust Units 

NDR INVIT Trust also saw a sizeable transaction during the session. 

Spark Financial Holdings acquired 34 lakh units of the infrastructure investment trust from Investcorp India Warehousing IFSC Trust. 

The units changed hands at Rs 148 apiece, taking the total value of the transaction to Rs 50.32 crore. 

The September 30 deals, therefore, saw significant activity across three counters, with GNG Electronics witnessing a promoter stake sale and IRB InvIT Fund and NDR INVIT Trust recording large unit transactions.