HDFC MF and ADIA Lead ₹777 Crore Block Deal in Corona Remedies

A major shift in the shareholding pattern of pharmaceutical player Corona Remedies Limited occurred on June 17, 2026, as marquee institutional investors stepped in to absorb a massive stake sale. The block deal saw significant interest from both domestic mutual funds and global sovereign wealth funds, signaling strong institutional confidence in the company.

Massive Divestment by Sepia Investments and Anchor Partners

The transaction was primarily driven by Sepia Investments, which offloaded a significant portion of its holdings in the pharmaceutical company. According to stock exchange block deal data, Sepia Investments sold 43,28,943 shares at a price of ₹1,730 per share, amounting to approximately ₹748.9 crore.

In addition to Sepia, another seller, Anchor Partners, participated in the divestment by offloading 1,61,861 shares at the same price of ₹1,730. This secondary sale added roughly ₹28 crore to the total transaction volume. Combined, the two sellers exited positions worth approximately ₹776.9 crore in Corona Remedies.

HDFC Mutual Fund Dominates the Buy Side

The buy side of the deal featured a diverse group of twelve institutional investors, with Indian domestic giants taking the lead. HDFC Mutual Fund emerged as the most aggressive buyer, acquiring 24,50,000 shares valued at roughly ₹423.9 crore. This single acquisition accounted for more than half of the total deal value, highlighting the fund's conviction in the stock.

Other prominent 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 quantity sold by Anchor Partners. Invesco Mutual Fund also participated, purchasing 2,89,017 shares for approximately ₹50 crore.

Global Institutional Interest and Sovereign Wealth Participation

The deal was not limited to Indian shores; global fund managers and sovereign wealth entities also participated, indicating broad-based institutional appetite. The Abu Dhabi Investment Authority (ADIA) acquired 39,130 shares worth approximately ₹6.8 crore.

International interest was further bolstered by Aberdeen Asset Management entities. Aberdeen Asian Smaller Companies Investment Trust Plc bought 4,50,868 shares worth ₹78 crore, while the Aberdeen Standard Sicav I - Asian Smaller Companies Fund acquired 2,74,132 shares worth ₹47.4 crore.

Other significant global contributors included WhiteOak Capital Mutual Fund (₹25.1 crore), India Acorn ICAV - Ashoka WhiteOak Emerging Markets Equity Fund (₹25.7 crore), and the TCW White Oak Emerging Markets Equity Fund, which, despite being the smallest buyer with 1,920 shares, contributed ₹33 lakh to the deal.

Key Takeaways