Temasek Unit Divests 1.4% of Godrej Agrovet, Gains Rs 212 Crore

V-Sciences Investments, a subsidiary of Temasek Holdings, sold a 1.4 per cent stake in Godrej Agrovet for over Rs 212 crore on Friday. Temasek Holdings, based in Singapore, is a state-owned multinational investment firm with a portfolio value of SGD 389 billion as of March 31, 2024.

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Godrej Agrovet Stake Sale

According to the National Stock Exchange (NSE) bulk deal data, V-Sciences Investments offloaded 27.10 lakh shares of Godrej Agrovet at an average price of Rs 785.13 each. This transaction amounted to Rs 212.77 crore. Following this sale, V-Sciences Investments' stake in Godrej Agrovet decreased from 7.77 per cent to 6.36 per cent.

In May 2022, Temasek reduced its stake in Godrej Agrovet by selling 40 lakh shares for Rs 197 crore. Earlier, in February 2020, the company sold shares worth Rs 204 crore. Shares of Godrej Agrovet increased by 1.57 per cent to close at Rs 794 each on the NSE.

Medi Assist Healthcare Services Transaction

On the same day, Medimatter Health Management sold a 4.73 per cent stake in Medi Assist Healthcare Services for over Rs 211 crore through another bulk deal on the NSE. Medimatter Health Management disposed of 33.30 lakh shares at an average price of Rs 635.33 each, resulting in a transaction value of Rs 211.56 crore.

After this sale, the promoter and promoter group entities' holding in Medi Assist Healthcare Services dropped from 38.85 per cent to 34.12 per cent. Meanwhile, Aditya Birla Sun Life Mutual Fund (MF), HDFC MF, and ICICI Prudential MF acquired a combined total of 21.50 lakh shares or a 3.06 per cent stake in Medi Assist Healthcare Services at an average price of Rs 635 each, totalling Rs 136.52 crore.

Edelweiss Financial Services Deal

In another significant transaction, Abu Dhabi Investment Authority (ADIA) and two other entities purchased a combined 1.04 per cent stake in Edelweiss Financial Services for over Rs 122 crore through open market transactions. ADIA, Ashoka India Equity Investment Trust Plc (UK-based), and India Acorn ICAV acquired a total of 98.79 lakh shares at an average price of Rs 124 each.

These shares were sold by Edelweiss Employees Welfare Trust on the NSE. Additionally, Edelweiss Employees Welfare Trust offloaded another 50 lakh shares on the BSE at an average price of Rs 114.12 each, amounting to Rs 57.06 crore.

Shares of Edelweiss Financial Services surged by approximately 10 per cent to close at Rs 125.14 and Rs 125.15 per share on the NSE and BSE respectively.

Last week, California-based Bessemer Venture Partners reduced its stake in Medi Assist Healthcare Services by selling a significant portion amounting to a total value of Rs 580 crore.

The buyers for some portions of these transactions remain unidentified as per available data from the exchanges.

This series of transactions highlights active trading and investment activities involving prominent firms across various sectors within India’s financial markets.