UK-based FII buys stake in this mid-cap realty stock. Do you own? | Stock Market News

UK-based FII buys stake in this mid-cap realty stock. Do you own? | Stock Market News

Source: Live Mint

Foreign institutional investor (FII) Baillie Gifford, on January 23, said that it has acquired over 6,000,000 equity shares of Equinox India Developments Limited.

“This is to inform you that Baillie Gifford & Co (“BG”) has, on account of certain contractual arrangements, acquired / been delegated voting rights in relation to 6,000,000 equity shares of Equinox India Developments Limited (“Target Company”) on 22 January 2025, which coupled with previously acquired/ delegated voting rights in favour of BG and Baillie Gifford Overseas Limited has crossed the 2% threshold prescribed under the Takeover Regulations,” the company said in an exchange filing.

According to data available on National Stock Exchange, the FII owned 3,29,24,807 shares in the mid-cap realty company, as of December 31, 2024.

Equinox India Developments stock performance

The shares of Equinox India Developments are trading 1.45 per cent down on Friday’s trading session at 148.77.

Equinox India Developments saw its shares surge to a 20 per cent upper circuit on January 7 after the National Company Law Appellate Tribunal (NCLAT) approved its long-awaited merger with Embassy Group, a deal that has been in progress for five years.

The agreement between the two companies was initially announced in August 2020, with the Competition Commission of India (CCI) granting its approval in February 2021.

Following the merger, the Embassy Group will acquire a majority stake in the newly established entity.

That said, it is important to emphasize that the appellate tribunal’s decisions remain subject to appeal in the Supreme Court.

Last year, Indiabulls Real Estate Limited (IBREL) rebranded itself as Equinox India Developments.

This renaming followed a significant infusion of 3,911 crore into the company through a preferential share allotment by Bengaluru-based developer Embassy Group, global asset manager Blackstone Real Estate Fund, UK-based investment firm Baillie Gifford & Co., and other investors.

Now headquartered in Mumbai, Equinox has launched its first Embassy-branded residential project, Embassy One, in Thane. The development features 186 apartments, each priced at 1 crore or more.



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