Fidelity Investments Sells 1.3% Stake in Granules India for Rs 191 Crore Through Open Market Transactions

Fidelity Investments, a financial services firm based in the US, sold a 1.3% stake in Granules India for Rs 191 crore. The sale occurred through open market transactions on Friday. Fidelity's three branches—Fidelity India Fund, Dendana Invest Mauritius, and Fidelity Funds - India Focus Fund—executed the sale via block deals on the NSE.

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Granules India Stake Sale

The data reveals that Fidelity Investments offloaded 32 lakh shares, representing a 1.32% stake in Granules India. These shares were sold at an average price of Rs 596 each, amounting to a total transaction value of Rs 190.72 crore. Buyers included Aditya Birla Sun Life Mutual Fund, Paulomi Ketankumar Doshi, Bandhan MF, Edelweiss MF, ITI MF, SBI Life Insurance, and Kotak Mahindra Life Insurance Company.

On the same day, Granules India's shares dropped by 1.51%, closing at Rs 591 per share on the NSE. This decline followed the significant sale by Fidelity Investments. The transaction highlights the active trading and interest in Granules India's stock among various institutional investors.

BlackRock's Investment in Protean eGov Technologies

In another transaction on Friday, BlackRock acquired a 1.1% stake in Protean eGov Technologies for Rs 90 crore through an open market deal on the BSE. BlackRock's affiliate, iShares Cybersecurity and Tech ETF, purchased 4.51 lakh shares at an average price of Rs 1,999.11 each. This acquisition brought the total deal value to Rs 90.24 crore.

Protean eGov Technologies experienced a rise in its share price by 1.65%, closing at Rs 2,005.65 per share on the BSE after BlackRock's purchase. However, details about the sellers of these shares were not available from the BSE data.

These transactions reflect ongoing activity and investor interest in both Granules India and Protean eGov Technologies within the Indian stock market landscape.