Sobha plunges 11% on block deals worth Rs 200 crore

Promoters held 55.97 percent stake (5.3 crore shares) in the company, of which 18.84 percent has been pledged against loan, as per March quarter shareholding pattern available on exchanges.

Shares of Bengaluru-based real estate developer Sobha fell 11 percent intraday on June 21 after Rs 202 crore worth of shares changed hands via block deals.


The stock had rallied 27 percent in last one month. However, it was quoting at Rs 524.40, down Rs 37.40, or 6.66 percent on the BSE at 1313 hours.

About 40 lakh shares (representing 4.2 percent of total paid-up equity) exchanged hands on the BSE at an average price of Rs 505, reports CNBC-TV18.

Promoters held 55.97 percent stake (5.3 crore shares) in the company, of which 18.84 percent has been pledged against loan, as per March quarter shareholding pattern available on exchanges.

The 24.61 percent shareholding is held by foreign portfolio investors including Schroder International Selection Fund Emerging Asia, Nordea 1 Sicav - Emerging Stars Equity Fund and Invesco Perpetual Global Smaller Companies Fund.

Among mutual funds, Franklin Templeton Mutual Fund A/C Franklin India Focused Equity Fund has 12.97 percent stake in the company as of March 2019, followed by L&T Mutual Fund (3.7 percent) and SBI Magnum Multicap Fund (1.57 percent).

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