Blend Fund, Unifi Capital acquire 3% stake in GNG Electronics; L&T buys 4.33% units in IRB InvIT Fund

As per the latest business developments, Unifi Capital and its Blend Fund 2 have acquired a 3% stake in GNG Electronics, the IT and ICT asset refurbisher, from a promoter through open-market transactions on September 30.

Shares of GNG Electronics opened elevated and rose 1.77% to close at Rs 686.75 on the NSE despite earnings booking during the session.

Unifi Capital and Blend Fund 2 acquired 34.2 lakh shares, representing a 3% stake in GNG Electronics, for Rs 230.8 crore, according to block deal data.

Promoter Vidhi S Khandelwal was the seller in the transaction, offloading the shares at Rs 674.8 apiece.

L&T entities buy 4.33% units in IRB InvIT Fund from Neo Group

Mumbai-headquartered Larsen & Toubro (L&T), India's largest infrastructure and engineering firm, through four entities, acquired a 4.33% stake in infrastructure investment trust IRB InvIT Fund from Arvesta Financial Services and Neo Treasury Plus Fund.

According to block deal data, L&T Welfare Firm and L&T Employees Welfare Foundation each acquired 1.58 crore units for Rs 100.66 crore at Rs 63.36 per unit.

L&T Technology Services acquired 79.57 lakh units for Rs 50.27 crore at Rs 63.18 per unit, while LTM picked up 1.58 crore units for Rs 100.05 crore at Rs 63.23 per unit.

Collectively, the L&T entities acquired 5.55 crore units for Rs 351.65 crore.

On the other side, Neo Group-backed Arvesta Financial Services sold 3.65 crore units in IRB InvIT Fund for Rs 231.31 crore at Rs 63.36 per unit, while Neo Treasury Plus Fund offloaded 1.9 crore units at Rs 63.18 per unit, valued at Rs 120.34 crore.

Spark Financial Holdings buys Rs 50.32 crore of NDR INVIT Trust units from Investcorp India

Spark Financial Holdings acquired 34 lakh units in NDR INVIT Trust, an infrastructure investment trust, from Investcorp India Warehousing IFSC Trust for Rs 50.32 crore.

The 34 lakh units changed hands at Rs 148 per unit.