Poonawalla Fincorp shares jump as NBFC attracts over ₹170 crore from mutual funds, others
Poonawalla Fincorp shares have been in uptrend since early morning deals on Tuesdday. Poonawalla Fincorp share price today opened with an upside gap and went on to hit intraday high of ₹312.40 apiece on NSE, logging more than 3 per cent intraday rise on Tuesday. Shares of this Cyrus S Poonawalla group Non-Banking Finance Company (NBFC) hit headlines today as the NBFC attracted more than ₹125 crore investment from mutual funds, which includes Aditya Birla Sun Life ((ABSL) Mutual Fund. These mutual funds investment deals were done through a bulk deal, which was executed on 17th April 2023.
As per the NSE block deals available on NSE website, Aditya Birla Sun Life Mutual Fund invested over ₹125 crore in Poonawalla Fincorp from its two arms — ABSL Umbrella Ucits Fund PLC-India Frontline Equity Fund and ABSL Mutual fund. ABSL Umbrella Ucits Fund PLC-India Frontline Equity Fund bought 3,56,123 Poonawalla Fincorp shares paying ₹290 apiece. This means ABSL Umbrella Ucits Fund PLC-India Frontline Equity Fund invested ₹10,32,75,670 or ₹10.32 crore in Poonawalla Fincorp.
Likewise, ABSL Mutual Fund invested ₹1,16,54,34,600 or ₹116.54 crore in Poonawalla Fincorp buying 40,18,740 number of Poonawalla Fincorp shares through seven tranches on 17th April 2023 paying ₹290 per share. Details of those seven tranches though which ABSL Mutual Fund invested in Poonawalla Fincorp is 89305, 178611, 267916, 357221, 625137, 893053 and 1607497 Poonawalla Fincorp shares paying ₹290 for each shares.
Apart from ABSL Mutual Fund, Plutus Wealth Management LLP also bought Poonawalla Fincorp shares paying ₹290 per share. Plutus Wealth Management LLP invested ₹145 crore through two tranches of block deals buying 50 lakh Poonawalla Fincorp shares. Details of two tranches through which Plutus Wealth Management bought these 50 lakh shares paying ₹290 per shares are 17,24,137 and 32,75,863 Poonawalla Fincorp shares.
So, in total Poonawalla Fincorp attracted over ₹290 crore ( ₹125 crore + ₹145 crore) from mutual funds and other wealth management companies.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.