IPO-bound Ujin Pharma Buys Stake in Shreedhar Spinners Amid Market Debut Rally
The market saw significant institutional movements across several micro-cap stocks on July 1, with IPO-bound companies demonstrating strong interest in established firms. Ujin Pharma has acquired a substantial equity stake in the cotton yarn maker, Shreedhar Spinners, signaling confidence in the company's growth trajectory.Shreedhar Spinners drew considerable buying attention during its debut on NSE Emerge. The stock saw a healthy rise of 7.74 percent, trading at ₹57.1 per share, significantly above its issue price of ₹53. This positive market reception highlights strong foundational appeal for the Maharashtra-based company.
Institutional Inflows Boost Shreedhar Spinners Stock
Ujin Pharma, which has filed draft IPO papers with SEBI, acquired 5.5 lakh shares representing a 2.56 percent stake in Shreedhar Spinners. This investment was made at a price of ₹54.4 per share, totaling ₹2.99 crore.Mansi Share and Stock Broking also increased its holding, purchasing an additional 8.94 lakh shares (a 4.17 percent stake). The broking firm acquired these shares for ₹4.91 crore at a price of ₹54.98 per share, expanding on its existing 1.8 percent interest in the company.
Further support came from other investors. Dhan Creators and Investments purchased 1.1 lakh shares for ₹60.04 lakh, while Excellent Shares and Finance Services acquired 4 lakh shares at ₹54.4 per share, valued at ₹2.17 crore.
Alternative Funds Offload Stakes in Spinners Stock
Despite strong buying interest, the day also recorded selling activity from several investment funds. The alternative investment fund (AIF) manager, 35North Ventures, sold 4.52 lakh shares of Shreedhar Spinners across its three schemes. This divestment was conducted for ₹2.45 crore at ₹54.4 per share.Kuber India Opportunity Fund and Moneywise Financial Services also offloaded portions of their holdings in the company. Kuber India Opportunity Fund sold 1.52 lakh shares for ₹82.68 lakh, while Moneywise Financial Services sold 1.6 lakh shares for ₹87.68 lakh.
PSL Limited Buys Stake in Paisalo Digital
Separately, there was significant activity recorded in the digital sector. PSL Limited acquired a net 63.03 lakh shares in Paisalo Digital for ₹42.06 crore at ₹66.73 per share.The stock corresponding to Paisalo Digital experienced a surge of 19.86 percent, reaching ₹70.84 on the NSE. This sharp move occurred amidst heavy trading volumes and marked a breakout after three to four weeks of consolidation.
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