Dalmia Bharat Refractories has offloaded a massive 11.11% stake in RHI Magnesita India, signaling a major reshuffling in the company's equity structure. The transaction, executed through a bulk deal, involved the sale of approximately 2.29 crore shares at a set price of ₹360 per share.
Institutional appetite for the sale remained strong, with major players stepping in to absorb the supply. Notable buyers included SBI Mutual Fund and Bandhan Mutual Fund, highlighting continued investor confidence in the refractory giant.
The market reaction to the transaction was overwhelmingly positive. Following the completion of the trade, shares of RHI Magnesita India saw an upward trajectory, climbing 3.04% to settle at ₹379.20 by the end of the session.
This divestment marks a noteworthy shift in the ownership landscape for RHI Magnesita. As Dalmia Bharat cashes out, the entry of major mutual funds suggests that the stock remains a preferred choice for long-term institutional portfolios.
