Axiscades Technologies share price hit the 10% upper circuit on Tuesday, 29 September, after a large transaction was reported in the block deal window. According to media reports, this marks the biggest single-day gain for the stock since 1 July 2024.
Around 40.61 lakh shares, representing 9.5% of Axiscades Technologies’ equity, changed hands in the block deal, according to data available on the exchanges. The shares were reportedly transacted at an average price of ₹1,824 apiece, taking the total deal value to around ₹741 crore. The identities of the buyers and sellers were not immediately known.
Promoters hold 58% stake
At the end of the June quarter, Jupiter Capital Pvt. Ltd., the promoter of Axiscades Technologies, held a 58.04% stake in the company, while public shareholders owned 41.97%.
Among public shareholders, mutual funds held 1.45%, while more than 43,000 retail investors with authorised share capital of up to ₹2 lakh collectively held a 20.67% stake. Bodies corporate held another 6.36% stake as of the end of the June quarter.
Axiscades eyes Cloud Wave acquisition
The block deal comes a month after Axiscades Technologies said it was evaluating the acquisition of a 90% stake in Cloud Wave for around ₹254 crore. The company also plans to subsequently acquire the remaining 10% stake, according to its announcement.
