Bulk Deal: Rs 736 cr! Canada Pension Fund arm sells Macrotech Developers 70.29 lakh shares

Ivanhoe Op India Inc, the real estate arm of Canadian Pension Fund CDPQ, on Thursday offloaded 70.29 lakh shares of realty major Macrotech Developers Ltd for Rs 736 crore through open market transactions.

Ivanhoe Op India Inc sold 43,84,464 shares on NSE and 26,44,464 shares on BSE, amounting to a 1.5 per cent stake in the company, as per the bulk deal data available with the National Stock Exchange (NSE) and BSE.

The shares were disposed of at an average price of Rs 1,047.21 apiece on NSE and Rs 1,048 on BSE, taking the combined transaction value to Rs 736.28 crore.

However, the buyer(s) of the shares could not be ascertained immediately.

As of June 2022, Ivanhoe Op India held a 2.13 per cent stake in the company, shareholding data showed with the exchange.

Shares of Macrotech Developers closed 6.14 per cent lower at Rs 1,037 apiece on NSE and 5.82 per cent down at Rs 1,039.60 on BSE.