Funds trim Shankesh and Gujarat Kidney stakes, Riambel buys SG Mart

what happened

TradingView reports that Tiger Strategies Fund-I cut its position in Shankesh Jewellers, a Mumbai wholesaler of jewellery, by 0.55 percentage points through open-market sales on October 26. The fund sold 8.21 lakh shares at Rs 91.76 each, a deal worth Rs 7.5 crore. Afterward the stock slid 4.86% to Rs 90.61 on Monday, extending a three-session decline.

Nexus Global Opportunities Fund, an anchor investor, exited its full 4.38 lakh-share holding in Gujarat Kidney and Super Speciality, a healthcare provider based in Gujarat. The shares changed hands at Rs 178, for Rs 7.8 crore, and the stock gained 0.63%, ending a three-session losing run. Riambel Capital PCC-RCC1, a protected cell fund registered in Mauritius, bought 7.89 lakh SG Mart shares, or 0.62% of equity, for Rs 63.13 crore at about Rs 799.46 apiece.

In Ola Electric rights, SoftBank's SVF II Ostrich (DE) sold 54.7% of its estimated entitlement, while Param Capital acquired 2.17 crore entitlements for Rs 2.84 crore.

why it matters

These are routine bulk-deal disclosures in small Indian stocks, and each transaction is modest compared with the companies' market value. The most visible pressure came in Shankesh and from SoftBank's exit from Ola Electric rights, which can weigh on thinly traded shares. When early anchor investors, such as the one in Gujarat Kidney, sell after an IPO, the move may signal profit-taking by pre-listing backers.

tags

instruments