Belrise Industries Block Deal: SBI MF, BlackRock Buy 6.56% Promoter Stake in ₹897-Cr Trade

SBI Mutual Fund and BlackRock bought shares worth about ₹897 crore in

via a block deal in which promoter-group entity Sumedh Tools sold ~6.56% stake (about 5.83 crore shares). The deal was reported to be executed around a floor/average price of ₹153.70 per share (roughly a ~3% discount to the prior market price), and the stock hit fresh highs after the transaction. The transaction is seen as promoter stake dilution/realignment—also linked to meeting minimum public shareholding norms—rather than a change in business fundamentals. Institutional participation (SBI MF and BlackRock) signals strong buy-side demand for the recently listed auto-components play, which has rallied sharply since its IPO. Source: The Economic Times No Recommendations