{
  "id": 9520615,
  "title": "Allied Blenders stock surges 6% as promoter offloads 55 lakh shares to meet MPS norms",
  "url": "https://urgent.news/2026/09/24/allied-blenders-stock-surges-6-as-promoter-offloads-55-lakh-shares-to",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T08:20:44.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/stock-markets/allied-blenders-stock-surges-6-as-promoter-offloads-55-lakh-shares-to-meet-mps-norms/article71503326.ece"
  },
  "original_language": "en",
  "account": "Allied Blenders and Distillers Limited's shares jumped over 6 percent on the National Stock Exchange on Thursday, September 24, 2026, as the company's co-promoter Bina Kishore Chhabria sold a large block of shares to meet minimum public shareholding norms. The stock was trading at ₹697.05 when the market opened at 1:30 pm, up ₹40.65 or 6.19 percent from its previous close of ₹656.40. The stock peaked at ₹704.40 intraday and had a trading volume of 45.55 lakh shares worth ₹313.48 crore by midday. Chhabria offloaded 55,00,000 shares, which made up around 1.97 percent of the company's total equity, at ₹650.17 per share. The transaction was announced to the Bombay Stock Exchange and National Stock Exchange on September 22, 2026, prior to a divestment window from September 23 through October 31, 2026. Before the transaction, Chhabria and his group owned 80.91 percent of the company, exceeding the Securities and Exchange Board of India's 75 percent limit for promoter holdings in listed companies. Two major institutional investors, Abu Dhabi Investment Authority and SBI Mutual Fund, were among the buyers in the deal. ADIA purchased 15,03,426 shares, or 0.54 percent of the company's equity, at ₹650 per share, while SBI Mutual Fund bought 34,00,725 shares, or 1.22 percent of the equity, at the same price. The block deal price of ₹650 was below the current market price, a common occurrence in large negotiated transactions. The surge in the stock price indicated the market saw the institutional participation, particularly from ADIA and the largest mutual fund house in the country, as a sign of confidence in the company. ABDL, which has been listed on Indian exchanges since July 2024, belongs to the Breweries and Distilleries sector and is part of the Nifty 500 index. The stock trades at a trailing P/E ratio of 87.55 and has gained over 30 percent in the past year, while the Nifty 500 declined by 2.17 percent over the same period.",
  "summary": "Abu Dhabi Investment Authority and SBI Mutual Fund emerge as major buyers",
  "key_points": [
    "Allied Blenders shares surged 6% on September 24, 2026",
    "Co-promoter Bina Kishore Chhabria sold 55 lakh shares",
    "Institutional buyers ADIA and SBI Mutual Fund purchased shares"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}