Rs 900 crore block deals: Pine Labs sees 3.1% stake change hands, Aster DM also sees block trade

Pine Labs Ltd and Aster DM Quality Care Ltd, erstwhile Aster DM Healthcare Ltd, saw block deals worth nearly Rs 900 crore on Wednesday. In the case of Pine Labs, 3.1 per cent stake changed hands in two blocks. As per NSE data, 3,54,56,317 Pine Labs shares changed hands at Rs 155.10 apiece, aggregating Rs 549.93 crore. The deal price was at a 3 per cent discount to Tuesday's closing price of Rs 159.89.

As per a CNBC-TV18 report, Alpha Wave Ventures II LP and Apha Wave India I LP were looking at sell their entire stake in the fintech firm for  Rs 560.30 crore. It represented around 3.2 per cent of the company's total equity at a floor price of Rs 153.5 apiece, as per the report.

Aster DM, meanwhile, saw 46,09,800 shares change hands at Rs 760 apiece, amounting to Rs 350.34 crore. The deal price represented a 0.29 per cent premium to Tuesday's closing price of Rs 757.80, suggesting buying interest. To recall,  Aster DM Quality Care Ltd had witnessed block deals in August, with Centella Mauritius, a special purpose investment  controlled by the affiliates of TGP Inc, selling about 6.24 crore company shares, or 7.2 per cent stake, in block deals at a floor price of Rs 766.10 apiece, through Citi.

As per Bloomberg, HDFC Bank also saw 24.6 lakh shares changing hands in a block on Wednesday. Business Today could not independently verify the data at this point in time.