CDPQ divests 0.89 percent stake in Piramal Pharma for Rs 100 crore
Vanguard Group acquired more than 62 lakh shares of Piramal Pharma at an average price of Rs 94.71 per share, while other buyer(s) identity is not known.
New Delhi: CDPQ on Friday divested a 0.89% stake in Piramal Pharma Ltd for Rs 100 crore through an open market transaction.
Caisse De Depot Et Placement Du Quebec is a global investment group.
According to the bulk deal data available with the National Stock Exchange, CDPQ offloaded a total of 1,05,70,466 shares, amounting to a 0.89% stake in Piramal Pharma.
The shares were sold at an average price of Rs 94.48 apiece, taking the transaction size to Rs 99.86 crore.
Post the latest transaction, CDPQ's shareholding has been reduced to 4.64% from 5.53% at March-end.
Meanwhile, Vanguard Group acquired more than 62 lakh shares of Piramal Pharma at an average price of Rs 94.71 per share, while other buyer(s) identity is not known.
Shares of Piramal Pharma went up 3.04% to close at Rs 94.95 per piece on the NSE.
Piramal Pharma Limited (PPL) offers a portfolio of differentiated products and services through end-to-end manufacturing capabilities across 15 global facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated Contract Development and Manufacturing Organization; Piramal Critical Care (PCC), a Complex Hospital Generics business, and the India Consumer Healthcare business selling over-the-counter products.
Read also: Piramal Pharma Solutions, Plus Therapeutics expand collaboration for cGMP drug production
In a separate bulk deal, SmallCap World Fund Inc offloaded more than 7 lakh shares of Aavas Financiers for nearly Rs 96 crore through an open market transaction.
SmallCap World Fund Inc sold 7,08,978 shares, amounting to a 0.90% stake in Aavas Financiers Ltd, as per the data available with the NSE.
Shares were disposed of at an average price of Rs 1,350.02 apiece, taking the deal value to Rs 95.71 crore.
Details of the buyers could not be ascertained.
On Friday, shares of Aavas Financiers gained 0.98% to settle at Rs 1,353.70 apiece on the NSE
Read also: Piramal Critical Care ropes in Jeffrey Hampton as President, COO
