Akzo Nobel India‘s promoter entity Imperial Chemical Industries today sold over 22.77 lakh shares worth Rs 765 crore via multiple block deals to marquee international and domestic funds. The shares were sold at a price of Rs 3,358.8 apiece to Goldman Sachs, Citigroup, BNP Paribas, Societe Generale, Morgan Stanley, Nippon India Mutual Fund, Aditya Birla Sunlife Mutual Fund and Edelweiss Life Insurance Company.

Nippon was the top buyer at Rs 274 crore and was followed by WF Asian Smaller Companies Fund and Goldman Sachs.

Block deal details

— Nippon India Mutual Fund bought 8,14,894 shares worth Rs 273.70

— WF Asian Smaller Companies Fund bought 5,28,500 shares at Rs 177.5 crore

— Goldman Sachs bought shares worth Rs 151.50 crore

— Citigroup bought shares worth Rs 35.2 crore
— Baroda BNP Paribas MF bought 74,820 shares at a deal size of Rs 25.13 crore
— Aditya Birla Sunlife MF bought 45,986 shares at Rs 15.4 crore
— Mediolanum Best Brands- Mediolanum India Opportunities bought 36,905 shares at 12.4 crore bought shares worth Rs 10 crore, each

— BNP Paribas Financial Markets, Societe Generale, Morgan Stanley, Bandhan MF, Edelweiss, Ghisallo Master Fund LP

— New York State Teachers Retirement System bought 24,407 shares worth Rs 8.2 crore

— GS India Equity bought 16,128 shares at a consideration of Rs 5.41 crore.

Akzo Nobel India is an Indian subsidiary of Amsterdam-based AkzoNobel.

The shares were sold at a discount of 1% over the Tuesday closing price of Rs 3,394.65. Today the shares ended at Rs 3390.75 on the BSE, declining by Rs 3.90 or 0.11%.

It has been a market laggard falling 8% over the past one year and shares are currently trading below their 50-day and 200-day simple moving averages of Rs 3,518.2 and Rs 3,481, respectively.

Also Read: NDR InvIT Trust bulk deals: Radhakishan Damani picks Rs 100 cr stake; Rakesh Jhunjhunwala trust invests Rs 67 cr

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