look news india
On Monday, the first trading day of the week, strong action and fluctuations can be seen in the shares of leading logistics solutions provider company Shadowfax Technologies in the stock market. Qualcomm Ventures, the venture capital arm of American chip maker Qualcomm, has sold a major stake in Shadowfax through a bulk deal in the open market transaction.
According to Bombay Stock Exchange (BSE) bulk deal data, Qualcomm Ventures, through its subsidiary Qualcomm Asia Pacific Pvt Ltd, has acquired approximately ₹183.85 crore Shares have been sold.
Key terms and figures of the deal: How many shares were sold at what price?
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Share sold: Qualcomm has increased the company’s total 75 lakh equity shares sold, which constitutes approximately the total paid-up equity capital of the company 1.28 percent (1.3%) Is part of.
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Average Selling Price: this deal ₹245.13 per share It happened at an average price of Rs.
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Change in holding: Following this latest disinvestment, Qualcomm Ventures’ total shareholding in ShadowFax will come down to approximately 1 percent is left, which was before 2.26 percent Was.
Despite this block deal in Friday’s trading session, ShadowFax Technologies shares were up 0.43% on BSE. ₹255.45 Was closed at the level of.
Profit Booking Cycle for Early Investors
Stock market analysts believe that periodic sale of partial stake by a private equity or early venture capital fund (like Qualcomm) after listing is part of their fund cycle and normal process of profit booking.
Since Shadowfax’s stock is trading at more than double its IPO issue price (₹124), it is considered natural for early institutional investors to partially withdraw their capital. However, the names of the buyers of this deal could not be immediately confirmed on the exchange, due to which it is believed that domestic or foreign mutual funds may have bought these shares.
Why will there be focus on shares on Monday?
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Supply pressure vs new buyers: After the transfer of 75 lakh shares, the balance of floating supply in the market will be tested. If the name of any big DII or FII emerges as a buyer, it can give strength to the stock.
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Growth in Logistics Sector: The growing demand for 3PL (third-party logistics) and reverse logistics in e-commerce and quick commerce is providing strong support to ShadowFax’s core business.
(Disclaimer: Any investment in the share market is subject to market risks. Please consult your certified financial advisor before trading or investing in any shares.)