InvestorQ : Is it true that the Canadian Pension fund has been selling Macrotech?
Mary Joseph made post

Is it true that the Canadian Pension fund has been selling Macrotech?

Answer
image
Arusha Ray answered.
1 week ago
Follow

That is correct. Ivanhoe, which is the real estate arm of Canadian Pension Fund CPDQ, sold 70.29 lakh shares of Macrotech on 04th August. The deal was valued at Rs736 crore. In terms of the break up of the deal, Ivanhoe sold 43,84,464 shares on NSE and 26,44,464 shares on BSE. The total sale represented 1.5% stake in the company.

Ivanhoe had a stake of 2.13% in Macrotech so they still have a holding left in the company, which has been a class performer in the last one year. The average price of the deal per stock ranged between Rs1,047 and Rs1,048. Prior to the deal, Ivanhoe held 2.13% stake in Macrotech so we need to wait for the September filings to get a clear picture. The identity of the buyers were not known, although some big India funds are supposed to be in that list. This is the second big stake sale this week. Earlier, Uber Holdings had bulk sold Zomato worth Rs3,087 crore on Wednesday, at a price of just over Rs50 per share.

2 Views