A word of caution: don’t judge the $SWIGGY block deal by appearances alone.
$TENCENT sold ₹982 Cr, and five buyers took up 97.3% of it, which looks like strong demand at first glance.
But a closer look reveals a catch: Societe Generale took ₹429 Cr, and Morgan Stanley Asia took ₹238 Cr. Both are intermediary accounts and don’t represent the ultimate buyers.
So how much of this “absorption rate” reflects genuine demand is still an open question.
$TENCENT sold ₹982 Cr, and five buyers took up 97.3% of it, which looks like strong demand at first glance.
But a closer look reveals a catch: Societe Generale took ₹429 Cr, and Morgan Stanley Asia took ₹238 Cr. Both are intermediary accounts and don’t represent the ultimate buyers.
So how much of this “absorption rate” reflects genuine demand is still an open question.