Dalmia Bharat liquidated 2.29 crore shares of RHI Magnesita India at ₹360 each, carving out an 11.11% ownership slice that fetched ₹826 crore.
SBI Mutual Fund bought 1.7 crore shares, equating to an 8.07% stake for ₹600 crore, while Bandhan Mutual Fund added 27.8 lakh shares for roughly ₹100 crore. Nippon India Mutual Fund snapped up 24.97 lakh shares at ₹90 crore, and Clarus Capital took 10 lakh shares for about ₹36 crore.
Post‑deal, Dalmia’s holding slides from 12.5% to roughly 1.4%, leaving it a minor shareholder. The remaining stake is poised to influence future board decisions, but the bulk of voting power now rests with the new investors.
RHI Magnesita’s shares closed at ₹378.60 after the block deal, marking a 2.88% rise from the previous session. Over the past week the stock has gained 4.87%, yet it remains 17.39% lower year‑to‑date, echoing a broader sector slowdown in refractory manufacturing.
Looking ahead, the company is slated to report Q4 earnings on 15 November, and analysts are watching how the reduced Dalmia exposure may affect liquidity and dividend policy.