Ajanta Pharma promoter sells nearly 3 pc stake for Rs 1,024 cr

New Delhi, Jun 9 (PTI) Ravi Agrawal Trust, one of the promoters of Ajanta Pharma, on Tuesday sold nearly a 3 per cent stake in the company for Rs 1,024 crore through an open market transaction.

According to block deal data available on the NSE, Ravi Agrawal Trust offloaded 34.50 lakh shares, representing a 2.76 per cent stake in Mumbai-based Ajanta Pharma.

The shares were sold at an average price of Rs 2,968 apiece, taking the deal value to Rs 1,023.96 crore.

After the latest transaction, Ravi Agrawal Trust’s shareholding in Ajanta Pharma fell to 10.24 per cent from 13 per cent. Also, the combined holding of promoters and promoter group entities dropped to 63.49 per cent from 66.25 per cent.

Meanwhile, Kotak Mahindra Mutual Fund (MF) bought 21.02

lakh shares of Ajanta Pharma, and Aditya Birla Sun Life MF acquired 13.47 lakh shares of the company at the same price, as per the data.

Shares of Ajanta Pharma rose 1.35 per cent to close at Rs 3,008.90 apiece on the National Stock Exchange (NSE).

In a separate bulk deal on the BSE, IvyCap Ventures, Accel, and 360 ONE offloaded a total of 46.36 lakh shares, amounting to a 3.04 per cent stake in BlueStone Jewellery and Lifestyle for nearly Rs 243 crore through open market transactions.

The shares were disposed of in the price range of Rs 522.08-524.97 apiece for a combined value of Rs 242.80 crore.

Meanwhile, Nippon India Mutual Fund picked up 25 lakh shares or a 1.64 per cent stake in Mumbai-based BlueStone Jewellery and Lifestyle for over Rs 130 crore.

Details of other buyers of BlueStone’s shares could not be ascertained on the exchange.

Shares of BlueStone Jewellery and Lifestyle fell nearly 4 per cent to close at Rs 528.35 apiece on the BSE. PTI HG HG BAL BAL