Anamudi Real Estates, the family office entity of Godrej Industries Group, has sold 47.4 lakh shares or 5 per cent equity in Bengaluru-based realty company Sobha Ltd for around ₹858 crore through bulk deals on the BSE, exchange data showed.
The shares were sold at Rs 1810.44 apiece, a discount of 2.8 per cent to the closing price of the company on Thursday. Sobha’s shares ended 3.8 per cent lower at ₹1792.35 on the BSE on Friday. Shares of Sobha have fallen 7.3 per cent since June, though they have appreciated 16 per cent from April 1.
Anamudi Real Estates held 9.99 per cent stake in Sobha at the end of June. It had raised its stake to that level in 2020 from just over 1 per cent at the end of FY20. It was seen as an investment by industry watchers.
The shares offloaded by Anamudi were picked up by Mirae Asset Mutual Fund, Invesco Mutual Fund, and Aditya Birla Sun Life Mutual Fund, the data showed.