Four Entities Sell 7.4% Stake in TD Power Systems for Rs 530 Crore Through Open Market Transactions

A total of 1.15 crore shares, representing a 7.4% stake in TD Power Systems, were sold by three promoter entities and a public shareholder on Thursday. The open market transactions amounted to Rs 530 crore. According to the BSE bulk deal data, Nikhil Kumar sold 45 lakh shares, Saphire Finman Services LLP offloaded 33 lakh shares, and Hitoshi Matsuo disposed of 21 lakh shares, collectively accounting for a 6.33% stake.

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Promoter and Public Shareholder Transactions

In addition to the promoters, Lavanya Sankaran, a public shareholder, sold 16 lakh shares, which equates to a 1.02% stake in TD Power Systems. The shares were sold at prices ranging from Rs 460.09 to Rs 463.28 each, resulting in a total transaction value of Rs 530.44 crore. Following these transactions, the combined holding of promoters and promoter group entities in the company decreased from 33.22% to 26.89%.

New Acquisitions by Institutional Investors

Meanwhile, Goldman Sachs Funds - Goldman Sachs India Equity Portfolio acquired an additional 10.93 lakh shares of TD Power Systems. Blend Fund 2 also purchased 13.04 lakh shares, together representing a 1.53% stake in the company. These acquisitions were made at an average price of Rs 460 per share, bringing the total deal value to Rs 110.31 crore.

Details regarding other buyers of TD Power Systems shares were not available on the exchange data. On Thursday, TD Power Systems' stock price fell by 2.01%, closing at Rs 484.15 per share on the BSE.

The transactions reflect significant changes in the ownership structure of TD Power Systems, with both sales and acquisitions impacting the company's shareholding pattern.

With inputs from PTI