10% equity changes hands in Shriram Properties block deal on Tuesday

Shriram Properties, a leading South-based real estate company promoted by the financial services giant Shriram Group, has on Tuesday made headlines following a substantial block deal, where nearly 10% of its equity changed hands. The focus has been on the clean out trade initiated by a significant private equity (PE) investor, which has completely divested its holdings.

From the seller's standpoint, the large PE investor took centre stage in the block deal, signalling a strategic move to exit its positions. Technically, it was a clean exit as the PE has entirely sold out, making waves in the market.

On the buying side, the deal saw the participation of a few large high net worth individuals (HNIs) and hedge funds. The well-bid book underscores the robust demand for Shriram Properties' equity, making it a noteworthy transaction in the current market landscape.