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Invesco, a US-based investment management firm, has divested shares totaling over INR 3,202 crore in Indian real estate companies Oberoi Realty and Lodha Developers through open market transactions. Specifically, Invesco Developing Markets Fund sold stakes valued at approximately INR 1,883 crore in Oberoi Realty and over INR 1,319 crore in Lodha Developers. The divestment by Invesco, a global institutional investor, signals a notable portfolio rebalancing in India's dynamic real estate market.
Invesco, a prominent US-based investment management firm, has divested shares valued at over INR 3,202 crore in two major Indian real estate companies, Oberoi Realty and Lodha Developers. These transactions were executed through open market deals. Advertisement
Specifically, Invesco Developing Markets Fund sold a 2.95 percent stake in Oberoi Realty for approximately INR 1,883.21 crore. Simultaneously, the fund offloaded nearly a 1 percent stake in Lodha Developers for INR 1,319.24 crore. Following these significant divestments, the shares of both Lodha Developers and Oberoi Realty experienced a decline on the stock exchanges.
The scale of these transactions suggests a notable portfolio rebalancing by Invesco, a global institutional investor with diverse holdings. In a related development, SBI Mutual Fund acquired a portion of the divested shares in Oberoi Realty, purchasing a 1.13 percent equity stake for INR 718.18 crore. This indicates that some of the offloaded shares were picked up by other institutional players.
The divestment in Oberoi Realty follows the company's recent financial report for the quarter ending in June. Oberoi Realty had reported a 28 percent decline in its consolidated net profit for that quarter, with its total income also falling compared to the previous year. This context may have contributed to the timing of Invesco's share sale.
Such large block deals are common in stock markets as institutional investors adjust their holdings based on market conditions, company performance, or broader investment strategies. They reflect the continuous movement of capital within India's dynamic real estate and equity markets.
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