Promoter entities of Ajanta Pharma on Thursday divested 4.3 per cent stake in the company for Rs 637 crore through open market transactions.
The buyers included over two dozen funds such as UTI Mutual Fund (MF), Aditya Birla Sun Life MF, Franklin Templeton MF, ICICI Prudential MF, Mirae Asset MF, Abu Dhabi Investment Authority and Tata AIA Life Insurance Company, among others.
Aayush Agrawal Trust and Ravi Agrawal Trust offloaded a total of 54,92,846 shares, amounting to 4.3 per cent stake in Ajanta Pharma, as per block deal data with the National Stock Exchange (NSE).
The shares were offloaded at an average price of Rs 1,160.1 per scrip, taking the transaction value to Rs 637.22 crore.
Following the stake sale, the promoter and promoter group entities' shareholding has come down to 66.18 per cent from 70.48 per cent.
Ajanta Pharma's shares closed 5.22 per cent higher at Rs 1,233 apiece on NSE.
Mumbai-based Ajanta Pharma is a speciality pharmaceutical formulation company.
