Authum Investment picks up 1.9% stake in DB Realty for Rs 100 crore

Authum Investment and Infrastructure Ltd on Thursday picked up a 1.9 per cent stake in real estate developer DB Realty for Rs 100 crore through open market transactions.

Following the stake purchase by Authum, DB Realty shares zoomed 11.84 per cent to close at Rs 135.10 apiece on the NSE and bounced 11.11 per cent to settle at Rs 134.45 per share on the BSE.

According to the bulk deal data available with the BSE and NSE, Authum Investment and Infrastructure bought 40 lakh shares each on both the bourses in four tranches, amounting to a 1.9 per cent stake in DB Realty.

The shares were acquired in the range of Rs 123-127 apiece on the NSE and BSE, taking the combined transaction value to Rs 100 crore.

Meanwhile, two individuals -- Abhay Shyamsunder Chandak and Aditya S Chandak -- offloaded a total of 80 lakh shares of DB Realty on NSE and BSE at the same price.

Authum Investment and Infrastructure Ltd is a BSE-listed and registered NBFC in the business of investment in shares and securities.