CNBC-TV18 said that Evergraph Holdings was expected to sell 29.53% of its overall ownership of 34.15 % in the company, and Sanders Consulting was expected to sell 0.56% of its investment in the company, both through block trades on Tuesday.

With a Monday closing price of Rs 620.75, the reported floor price of the deal is roughly Rs 580 per share, representing a discount of 6.5%. There would probably be a total value of roughly Rs 541.50 crore for the purchase.

The block purchase will leave Evergraph Holdings with a 4.6% share in the company, which will be locked up until November 10, 2024.

Ashish Kacholia, a well-known investor, sold 1.8 lakh shares of the company in a bulk transaction on August 18 for Rs 11.50 crore. As a result, yesterday the stock ended the day down by almost 3%.

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