Cohesion MK Best Ideas Sub-Trust bought 10 lakh shares of the company in the block deals at a price of ₹208.83 per share. Neither Kela, nor his funds held any prior stake in the company at the end of the March quarter or if any, it would be less than 1% as their names do not appear in the shareholding pattern on the Bombay Stock Exchange.
As many as 2.23 crore shares of Northern Arc Capital, or 13.84% of its outstanding equity changed hands in multiple blocks on Friday. Three 360 ONE Special Opportunities Funds were the seller, as per the official data.
Series 4, 5 and 7 of the 360 ONE Special Opportunities made an exit from the stock, selling 74.83 lakh shares, 61.56 lakh shares and 57.62 lakh shares of the company, respectively, in those block deas.
Apart from Madhusudan Kela’s fund, BNP Paribas Financial Markets was another significant buyer in the block deal on Friday. BNP Paribas too, did not have any prior stake in the company.
Among the public shareholders, Quant MF is the only domestic institution with a stake in the company, at 1.21%. Sumitomo Mitsui Banking Corporation, which recently acquired a stake in Yes Bank, has a 3.77% stake in the company.
Northern Arc has no promoter shareholding.
Shares of Northern Arc Capital recovered from the lows of the day to end 2.3% lower on Friday, at ₹209. Shares still remain below their IPO price of ₹263.
