Private equity investor Baring India Fund III sold a 7.36% stake in Shilpa Medicare worth ₹306 crore, on Friday, through an open market transaction.
As per the bulk deal data on the exchange, 6 million shares or 7.36% of equity of Raichur based Pharmaceutical firm were sold by Baring India Private Equity Fund III at an average price of ₹510.56 per share aggregating to ₹306.34 crore.
Nippon India Mutual Fund bought 2.13 million shares for ₹109.43 crore, data shows.
After Friday’s share sale Baring India Private Equity Fund III holds a 1.36% stake in the firm.
From the beginning of the year, Shilpa Medicare gained 81% against a drop of 7% in the benchmark index, Sensex. From March lows, shares of Shilpa Medicare almost doubled while Sensex was up 35%.
Shares of Shilpa Medicare on Friday ended at ₹510.50 on the BSE, 0.11% lower than the previous close, while the benchmark index, Sensex lost 1.63% to close at 38,357.18 points.
