Dalmia Bharat Refractories sells 11.11% RHI Magnesita stake
In short
Dalmia Bharat Refractories sold 2.29 crore RHI Magnesita India shares, or 11.11%, in a ₹826 crore block deal at ₹360 each. Its stake fell to 1.43%, and SBI Mutual Fund led the buying.
The sale may change who owns more of the company. The report does not say why Dalmia sold the shares or what it plans to do next.
What the reporting says
Dalmia Bharat Refractories sold 2.29 crore shares, or 11.11% of RHI Magnesita India, in a ₹826 crore block deal at ₹360 apiece. The transaction reduced its holding to 1.43%, while SBI Mutual Fund led the buyers and other institutional investors also participated. RHI Magnesita India shares later gained 3.04% to ₹379.20, though the longer-term effect on ownership and strategy was not stated.
Why it matters
Dalmia Bharat Refractories exited 11.11% of RHI Magnesita India through a ₹826 crore block deal, cutting its holding to 1.43%. SBI Mutual Fund led the buying, with other institutional investors also taking part, and the stock rose 3.04% to ₹379.20. The report shows a major ownership shift, but it does not state the seller’s reason or any strategic follow-up.