Shares of Electronics Mart India Ltd. surged by 8% to touch a day’s high of Rs 247.50 on 16th August, after a block deal took place in the stock.

In the block deal, 3.1 crore shares of the company, representing 8% of the total equity, were traded, as per the stock exchange data. The transaction was valued at Rs 712.6 crore, with shares exchanged at an average price of Rs 232 per share. The identities of the buyers and sellers in the deal are unknown.

As of the June quarter, promoters held 72.97% of the company. Domestic mutual funds of India were the second biggest shareholders, holding 16.43%, while notable investors include Motilal Oswal, Mirae, Nippon Life India, and HSBC.

Foreign portfolio investors held a 4.95% stake in Electronics Mart, leaving the total free float at just under 5%.

Shares of Electronics Mart debuted on the stock market in October 2022 with an IPO price of Rs 59 per share. Since then, the stock has surged nearly 4 times from its initial price.

The company’s market capitalisation rose to Rs 9,041 crore.

At 10:39 AM, the shares of Electronics Mart India Ltd. were trading 2.06% higher at Rs 234.92 on the NSE.

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