Block deals worth nearly ₹7,000 crore to take place on Tuesday as selling resumes post earnings

Earnings season is over, and block deals are back.

Dalal Street is likely to see block deals worth nearly $800 million or ₹6,800 crore during Tuesday's trading session, as the streak of promoters and private equity selling has resumed with the conclusion of quarterly results.

Block deals are likely to take place on Tuesday in shares of Mphasis, Paytm and Emcure Pharma, where existing promoters or PE firms are the likely sellers.

Mphasis

Mphasis is likely to see the biggest block deal among the three and this is also a confirmation of a CNBC-TV18 newsbreak.

Here, Blackstone is likely to sell up to 9.5% of the total equity via block deals in today's session. The floor price of the block deal is said to be ₹2,570 per share, which is a 4.4% discount to Monday's closing price, taking the total offer size to ₹4,626 crore.

There will also be a 180-day lock-in period on further selling from the seller.

In response to CNBC-TV18's story, Mphasis informed the exchanges that the company is not party to any such potential transaction as this does not involve them, but their promoter BCP Topco IX Pte. Ltd., which is part of the Blackstone Group, and that the company has reached out to its promoters seeking more clarity on this.

At the end of the September quarter, BCP Topco IX Pte. Ltd. had a 40.1% stake in Mphasis.

Paytm

The recovery seen in shares of Paytm from their 2024-lows has prompted block deals here as well.

In today's session, sources told CNBC-TV18 that Saif III Mauritius, SAIF Partners, Elevation Capital are likely to sell up to 2% of the company's equity worth ₹1,640 crore.

Floor price of this transaction has been fixed as ₹1,281 per share, which is a 3.9% discount to Monday's close.

There will also be a lock-in of 60 days on further sale of shares.

At the end of the September quarter, Saif III Mauritius had a 10.76% stake in Paytm, while Saif Partners India IV Ltd. had a 4.57% stake.

Shares of Paytm have risen over 4x from the all-time lows of nearly ₹300 that the stock fell to back in 2024. Yet, the stock remains below its IPO price of ₹2,150.

Emcure Pharma

Emcure Pharma is also likely to see a PE firm sell stake on Tuesday, with Bain Capital likely to sell up to 2% of the company's equity worth up to ₹493 crore, sources said.

The floor price of the transaction is fixed as ₹1,296.5, which is a 7% discount to Monday's closing price.

Bain's unit BC Asia had a 6.3% stake at the end of the September quarter in Emcure Pharma. There will also be a lock-in of 90 days on further sale of shares.

Emcure Pharma shares are trading above their IPO price of ₹1,008.