Bulk Deals Today: Morgan Stanley offloads stake in Signature Global on D-Street debut; check details

Bulk Deals Today: Morgan Stanley offloaded a part of its stake in Signature Global (India) Ltd on Wednesday, September 27 - the day when the real estate developer made its stock market debut. Shares of Signature Global (India) listed on stock exchanges BSE and NSE at a premium of 15.32 per cent earlier today and further gained three per cent during the session.

On the NSE, Signature Global listing price was ₹444 per share. After listing, Signature Global share price traded higher and made a high of ₹453.80 apiece on the BSE, which was nearly 2 per cent higher than the listing price and nearly 18 per cent higher than the issue price.

The ₹730-crore Signature Global initial public offering (IPO) was open from September 20 to September 22. It received 11.88 times total subscription, as per data available on stock exchanges. The IPO price band was ₹366 to ₹385 per share. Signature Global Ltd is one of the largest real estate developer in the Delhi NCR region in the affordable and lower mid segment housing in terms of units supplied.

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On Wednesday, Morgan Stanley sold shares of Signature Global (India) in sets of bulk deals, despite shares rising on the company's market debut. According to NSE bulk deal data, Morgan Stanley Asia (Singapore) Pte sold 7,44,793 shares of Signature Global (India) at an average price of ₹447.90.

Morgan Stanley Investments Mauritius Ltd sold 7,67,167 shares of Signature Global (India) at an average price of ₹444. Morgan Stanley Mauritius Company Ltd sold 7,67,167 shares of Signature Global (India) at an average price of ₹444. Additionally, Samyaktva Construction LLP bought 17,00,000 shares of Signature Global (India) at an average price of ₹444.

A bulk deal is a transaction in which at least five per cent of a company's total equity shares are traded all at once. These transactions can take place throughout the regular trading session, unlike block deals. Bulk transactions do not require the opening of a special window. However, it is possible in the block deal window.

On the other hand, block deals refer to single trades with a 5 lakh share minimum or a value of ₹10 crore. When two parties agree to buy and sell at least these many shares at the same price, a block deal occurs.

Meanwhile, among other major bulk deals on NSE today, State Bank of India (SBI) sold 57,00,000 shares of MSP Steel and Power at an average price of ₹15.55. Additionally, Rajasthan Global Securities, among others, sold shares of Kody Technolab Ltd in bulk deals on Wednesday.

According to NSE block deals, McDonald's India franchisee Westlife Foodworld saw heavy and selling today. Horizon Impex Pvt Ltd bought 2,92,000 shares of Westlife Foodworld at an average price of ₹998.80. Mankino Holdings sold 2,92,000 shares of the company at an average price of ₹998.80.