Urban Company's Stock Soars After Major Stake Acquisition

Urban Company's shares surged over 13% after SBI Mutual Fund acquired a nearly 4% stake worth Rs 632 crore. Concurrently, Wellington Management, DF International Partners, and ABG Capital sold a 4.62% stake for Rs 734 crore. The transactions reflect strategic movements in the company's shareholder structure.

Urban Company's stocks experienced a significant rise of over 13% on Wednesday after SBI Mutual Fund acquired nearly a 4% stake valued at Rs 632 crore.

The fund house purchased more than 5.75 crore shares via bulk and block deals on the BSE and NSE. This acquisition increased SBI Mutual Fund's holding in the company to 5.87% from 1.89%.

Meanwhile, Wellington Management, DF International Partners, and ABG Capital collectively divested a 4.62% stake in Urban Company. The shares, sold in separate deals on the exchanges, amounted to Rs 734 crore.

(With inputs from agencies.)