$LODHA

Fidelity Investments, through multiple investment schemes, has acquired a 1.99% stake in Lodha Developers from promoter entities via block deals executed on June 25. Promoter entities Hightown Constructions and Homecraft Developers and Farms together sold nearly 1.99 crore shares, comprising 1.99% of the company's equity, in transactions worth Rs 1,864.56 crore. Hightown Constructions offloaded 1.74 crore shares, while Homecraft Developers and Farms sold 24.57 lakh shares. The entire stake was purchased by FMR LLC, the Boston-headquartered global financial services firm better known as Fidelity Investments, through several of its managed investment schemes. Among the buyers, Fidelity Investment Trust – Fidelity International Capital Appreciation K6 Fund acquired 17.1 lakh shares worth Rs 160.38 crore, while VIP International Capital Appreciation Portfolio purchased 7.2 lakh shares valued at Rs 67.54 crore. SunAmerica Series Trust – SA Fidelity Institutional AM International Growth Portfolio bought 1.78 lakh shares for Rs 16.72 crore. Other Fidelity-managed funds participating in the transaction included Fidelity Institutional AM International Core CIT, which acquired 8.94 lakh shares worth Rs 83.89 crore, Fidelity Rutland Square Trust II, which purchased 1 lakh shares valued at Rs 9.45 crore, and FMRC Fidelity Advisor International Capital Appreciation Fund, which emerged as the largest buyer by acquiring 1.32 crore shares for Rs 1,244.02 crore.