Shares of Sona BLW Forgings fell nearly 6% in early trade on May 31 after a block deal on exchanges.

About 2.1 crore shares, or a 3.7% stake, changed hands on the exchange at Rs 507 each, a discount of more than 5% to Tuesday’s close. The total deal value is approximately Rs 1,093 crore.

CNBC-TV18 reported that it is likely that the promoter Aureus Investment sold its shares.

Shares of Sona BLW Precision Forgings fell 3.86% to Rs 512.50 at 9:42 am on the National Stock Exchange. The big deal also boosted over-the-counter volumes, as 3 crore shares changed hands on the exchange, compared with a one-month daily average of 40 lakh shares.

CNBC-TV18 had reported on May 30, citing sources, that Aureus Investment, the promoter entity of Sona BLW, wanted to sell a 3.25% stake in the company at Rs 500 per share for a total value of Rs 950 crore.

Shareholding data for the auto parts maker showed promoter Aureus Investment held a 33% stake in the company as of March 31.

Back in March, another company promoter, US private equity fund Blackstone Group, also sold its entire 20.50% stake for Rs 4,917 crore. The stake was subsequently acquired by the Government of Singapore, HDFC Mutual Funds, ICICI Prudential Life Insurance, Société Générale, BNP Paribas Arbitrage, Fidelity Series Emerging Markets Funds, Fidelity Asian Values Plc and the Monetary Authority of Singapore.