 "Lodha, Oberoi shares fall as Invesco sell over ₹3,000 cr worth stake")
Shares of Lodha Developers and Oberoi Realty fell on Wednesday as Invesco offloaded almost its entire stake in the Mumbai-based realty majors.
Shares of Lodha ended 7.7 per cent lower at ₹1,332, while Oberoi Realty fell 2.3 per cent to ₹1,784.
Invesco Developing Markets Fund sold 2.95 per cent stake for ₹1,883 crore. It sold 10.73 million shares at ₹1,754 apiece, of which SBI Mutual Fund picked up 4.1 million shares for ₹718 crore. ALSO READ: Lodha Developers eyes ₹1,500 crore rental income in FY31, says MD
Meanwhile, Invesco Developing Markets Fund sold 9.53 million shares (0.95 per cent stake) at ₹1,385 apiece to raise ₹1,319 crore. Names of other buyers were not disclosed by the exchanges. Both the block deals were handled by Goldman Sachs.
Lodha Developers is valued at ₹1.33 trillion, while Oberoi has a market capitalisation of almost ₹65,000 crore.