HDFC MF and ADIA Lead ₹777 Crore Block Deal in Corona Remedies
A significant shift in the ownership structure of Corona Remedies Limited took place as major institutional players moved to acquire a substantial stake in the pharmaceutical company. Through a massive block deal, marquee global and domestic investors have stepped in to absorb shares offloaded by existing high-profile holders.
Major Divestments by Sepia Investments and Anchor Partners
On June 17, 2026, the stock exchange witnessed a high-value liquidity event involving Corona Remedies. The primary seller, Sepia Investments, offloaded a massive block of 43,28,943 shares. These shares were transacted at a price of ₹1,730 per share, amounting to a deal value of approximately ₹748.9 crore.
In addition to Sepia, another seller, Anchor Partners, participated in the divestment by selling 1,61,861 shares at the same price point of ₹1,730. This secondary sale contributed an additional ₹28 crore to the total transaction. Collectively, the two sellers divested shares worth roughly ₹776.9 crore, marking one of the most significant block deals in the pharmaceutical sector for the period.
HDFC Mutual Fund Dominates the Buy Side
The exit of Sepia and Anchor Partners was met with aggressive buying interest from a diverse group of twelve institutional investors. HDFC Mutual Fund emerged as the most dominant participant in this transaction, acquiring 24,50,000 shares. This single purchase, valued at approximately ₹423.9 crore, accounted for more than half of the total deal value, signaling strong domestic confidence in the company's prospects.
Other significant domestic players included Aditya Birla Sun Life Mutual Fund, which picked up 4,90,000 shares worth ₹84.8 crore, and Kotak Mahindra Mutual Fund, which acquired 1,61,861 shares worth ₹28 crore—matching the exact volume sold by Anchor Partners.
Global Institutions and Foreign Portfolio Interest
The deal also saw heavy participation from international funds, highlighting the global interest in Corona Remedies. Aberdeen Asset Management entities were prominent, with Aberdeen Asian Smaller Companies Investment Trust Plc purchasing 4,50,868 shares worth roughly ₹78 crore. Additionally, the Aberdeen Standard Sicav I - Asian Smaller Companies Fund added 2,74,132 shares (₹47.4 crore) to its portfolio.
Global heavyweight Abu Dhabi Investment Authority (ADIA) also participated, acquiring 39,130 shares worth approximately ₹6.8 crore. Other international contributors included Invesco Mutual Fund (₹50 crore), WhiteOak Capital Mutual Fund (₹25.1 crore), and the TCW White Oak Emerging Markets Equity Fund, which, despite being the smallest buyer with 1,920 shares, contributed to the overall institutional momentum.
Key Takeaways
- Massive Liquidity Event: Total divestment by Sepia Investments and Anchor Partners reached approximately ₹776.9 crore at a fixed price of ₹1,730 per share.
- HDFC MF Leads Acquisition: HDFC Mutual Fund was the cornerstone buyer, absorbing over ₹423 crore worth of shares, representing more than 50% of the deal volume.
- Broad Institutional Appetite: The deal saw a healthy mix of Indian domestic mutual funds and global giants like ADIA and Aberdeen, indicating diversified institutional trust in the stock.