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Norges Bank has fully exited its position in Raymond Realty through a block deal worth INR 42 crore, just days after the company made its stock market debut. Simultaneously, Raymond Ltd witnessed a flurry of institutional trades totalling approximately INR 221 crore. These developments come in the wake of the group's recent demerger, where shareholders were allotted one share of Raymond Realty for every Raymond Ltd share held. The twin trades reflect how investors are actively reshaping their positions in both entities as the market digests the post-listing dynamics.
Raymond Realty, the newly demerged and listed real estate arm of Raymond Ltd, witnessed a significant institutional exit when Norges Bank sold its entire stake through a block deal worth around INR 42 crore. The transaction involved 4,12,585 shares sold at INR 1,018.72 per unit just above its listing price of INR 1,000. At the time of the deal, the stock was trading at INR 1,005.94, slightly lower than its price discovery level of INR 1,039.30 on debut day. Advertisement
By market close, Raymond Realty's shares ended the session at INR 999, reflecting a nearly 4% drop from its initial discovered price. Despite this dip, the stock continues to attract investor attention, particularly given the company's fresh listing.
Meanwhile, Raymond Ltd the parent company prior to the demerger saw a surge of institutional trades worth approximately INR 221 crore. Among the largest sellers were Graviton Research Capital (INR 86.1 crore), NK Securities (INR 79.4 crore), and QE Securities (INR 55.7 crore). Several other institutional players also exited or trimmed their positions, including Marwadi Chandarana, Alphagrep, HRTI, Arham Wealth, and Elixir Wealth, with block deals ranging between INR 30-40 crore.
These transactions come close on the heels of the group's corporate restructuring, where shareholders were issued one share of Raymond Realty for every share held in Raymond Ltd. While Norges Bank's complete exit may suggest a tactical shift in portfolio management, it doesn't necessarily reflect negative sentiment. Instead, the simultaneous activity in both Raymond Group entities points to a broader portfolio rebalancing by institutions keen to monetise gains or reallocate capital in line with changing risk-reward assessments.
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