IKS Health Stocks: A large block deal was seen on June 19 in shares of Inventurus Knowledge Solutions Limited (IKS Health), a company providing healthcare services. This block deal led to a transaction of about 3 million shares of the company, which is equal to about 1.75% of its stake. The average price of shares in this deal was Rs 1,659 per share, causing the total value of the deal to reach Rs 499 crore. However, the official information of who is buyers and sellers in this deal has not been revealed. According to sources, many individual investors are expected to be sold in this deal.
The impact of this block deal also appeared on the company’s shares. IKS Health shares fell by 4 per cent to Rs 1,632 in early trade. The floor price for the block deal was fixed at Rs 1,650 per share, which was about 2.6% less than its Wednesday’s closing price of Rs 1,695.
Jhunjhunwala family stakes
The Jhunjhunwala family has a major stake in IKS Health. The Nishtha Jhunjhunwala Dispensary Trust, Aryveer Jhunjhunwala Descendant Trust and Aryaman Jhunjhunwala Dispressing Trust, are included in the company’s promoter group. They had a 16.37% stake in the company by the end of the March quarter. Apart from this, some other individual institutions also come in the promoter category.
Six months lock-in period over
This block deal took place at a time when the six-month lock-in period of the company ended on Wednesday exactly a day earlier. With the end of this lock-in, about 10.5 million shares of the company (about $ 20 billion) have become available for trading.
Around 10.05 am, IKS Health shares were trading at a price of 3.24 per cent to Rs 1,648.20. A day earlier on Wednesday, the stock fell 8.7% to close at Rs 1,695. Currently, the company’s stock is trading below its all -time high from Rs 22,185 below 22%.
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