Institutional Investors Make Significant Buys and Sells in Fusion Micro Finance, Onward Technologies, Senco Gold, and Zen Technologies

15 Dec 2023 , 12:31 PM

Institutional investors, including Bajaj Allianz Life Insurance, Kotak Mahindra Life Insurance, Morgan Stanley Asia Singapore, Societe Generale, Franklin Templeton Mutual Fund, and HDFC Mutual Fund, acquired over 80 lakh equity shares (7.92% of paid-up equity) in Fusion Micro Finance for Rs 555.6 per share, totaling Rs 444.54 crore. Simultaneously, promoters Honey Rose Investment and Creation Investments Fusion, LLC sold 1,02,99,021 equity shares (10.2% of paid-up equity) at the same price, valued at Rs 572.2 crore.

Onward Technologies witnessed a surge of nearly 20% to Rs 684.20. Institutional investors, including WhiteOak Capital Mutual Fund, White Oak India Equity Fund IV, Ashoka India Equity Investment Trust Plc, and India Acorn Fund, bought 10,99,700 equity shares (4.9% of paid-up equity) in the software company for Rs 563.75 per share, totaling Rs 62 crore. Promoter entity Onward Software Technologies was the seller in this deal.

Senco Gold observed a 2% rise to Rs 760.5 despite an alternate investment fund selling a stake. Oman India Joint Investment Fund II, the alternate investment fund, sold 6 lakh equity shares (0.77% stake) in the gold jewelry company for Rs 746.19 per share, totaling Rs 44.77 crore. Oman India held a 3.43% stake in Senco as of September 2023.

Zen Technologies shares increased by 2.75% to Rs 535 following a substantial block deal. Tata AIA Life Insurance purchased 20 lakh equity shares (2.38% stake) in the company for Rs 725 per share, amounting to Rs 145 crore. Simultaneously, promoter Tara Dutt Atluri sold 15 lakh shares (1.78% stake) in Zen at the same price, totaling Rs 108.75 crore.

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