NewsStocksBlock Deals Worth Over ₹6,000 Crore Change Hands on Dalal Street

Block Deals Worth Over ₹6,000 Crore Change Hands on Dalal Street

Author: CNBC-TV18 Markets·

Key Takeaways

  • •Five block deals worth more than ₹6,000 crore were executed on August 26 across Welspun Corp, PhysicsWallah, Groww, Viyash Scientific, and Rubicon Research.
  • •The promoter, CEO, or MD of Welspun Corp was likely among the sellers in its block deal.
  • •PhysicsWallah's block deal involved equity valued at ₹550 crore.
  • •Ribbit Capital was the likely seller in the Groww (BillionBrains Garage Ventures) block deal.
  • •A block deal requires at least five lakh shares or ₹5 crore in value and is executed through a separate exchange window.
Block Deals Worth Over ₹6,000 Crore Change Hands on Dalal Street

Dalal Street witnessed five major block deals on August 26, with shares worth more than ₹6,000 crore changing hands across five companies: Welspun Corp, PhysicsWallah, Groww, Viyash Scientific, and Rubicon Research.

According to the CNBC-TV18 report, Welspun Corp saw a block deal in which the promoter, CEO, or MD was likely among the sellers. PhysicsWallah recorded a transaction in which equity worth ₹550 crore changed hands. In Groww (BillionBrains Garage Ventures), a block deal took place with Ribbit Capital likely the seller. Block deals were also reported in Viyash Scientific and Rubicon Research.

Several of the companies involved are recent entrants to the public markets, where block deals are a common route for venture capital firms and other early investors to trim holdings after listing. Investor focus in such cases typically turns to exchange disclosures, which reveal the identities of buyers and sellers and indicate whether institutional investors are absorbing the supply.

A block deal is a single transaction in which at least five lakh shares or shares valued at a minimum of ₹5 crore are traded, and it is executed through a separate window on the stock exchange. Such deals often involve large institutional investors, promoters, or early-stage shareholders, and the details of buyers and sellers are typically disclosed in exchange filings.