Business Standard

$3.9 billion: Block deals gain momentum in June, hit three-year high

Activity in block deals is seen as a precursor to growth in the IPO market, say bankers

broker, stock market
Premium

Bankers said the activity in block deals is seen as a precursor to the growth in the IPO market

Manojit Saha Mumbai

Listen to This Article

Block deals gained momentum in June on the back of buoyant equity markets as $3.9 billion worth of shares changed hands — the highest in three years after May 2020 when $4.7 billion worth such deals were struck.

Some of the companies that were involved in block trades are Coal India, Shriram Finance, HDFC Life, Policy Bazaar and Kalyan Jewellers, among others. A block deal is when 500,000 shares or at least Rs 5 crore worth of shares changes hands in a single transaction. These shares are typically bought by institutional buyers. 

“Whenever momentum shifts in equity markets and flows come back,

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 29 2023 | 10:59 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com