A significant block deal transpired involving 1.79 crore shares, constituting a 9.3 percent equity holding valued at Rs 975 crore in Eureka Forbes, a renowned home appliances company. The transaction was completed at a base price of Rs 544 per share, indicating a premium of 6 percent compared to the previous day’s closing price of Rs 510 on the NSE.
It is probable that Lunolux Ltd, the primary entity holding shares in Eureka Forbes, acted as the seller, as reports suggested a divestment of stake in the company. By 9:13 am, Eureka Forbes shares were trading marginally lower by 1 percent at Rs 503.95 on the BSE. Initially, during the opening trades, the stock experienced a surge of over 2 percent, reaching an intraday peak of Rs 544.