SBI Mutual Fund acquires additional shares of Alkem Labs for Rs 300 crore
New Delhi: SBI Mutual Fund has acquired 6.41 lakh shares or 0.54 per cent stake in Mumbai-headquartered Alkem Laboratories for Rs 300 crore through an open market transaction.
The shares were picked up at an average price of Rs 4,680 apiece, taking the transaction value to Rs 300.32 crore.
After the stake buy, SBI Mutual Fund's holding in Alkem rose to 2.7 per cent from 2.16 per cent, as per PTI report.
Meanwhile, Samprada & Nanhamati Singh Family Trust (related to Alkem promoters) offloaded the same number of shares of the company, showed the data on the NSE.
On Friday, shares of Alkem Laboratories fell 2.54 per cent to close at Rs 4,600.05 apiece on the NSE.
Read also: Alkem Labs to sell Pithampur facility to Rubicon Research for Rs 149 crores
Alkem Laboratories Ltd is an Indian pharmaceutical company engaged in the development, manufacture, and sale of pharmaceutical and nutraceutical products. The company produces branded generics, generic drugs, active pharmaceutical ingredients (APIs) and nutraceuticals in acute and chronic therapeutic areas, such as anti-infective, pain and analgesics, vitamins/minerals/nutrients, cardiac and Diabetology, Gynecology, Ophthalmology, neuro/central nervous system, dermatology, anti-diabetes, anti-osteoporosis, cardiovascular, and muscle relaxants, which are marketed in Indian and International markets. It operates through the pharmaceutical business segment.
Read also: Alkem Labs to sell Pithampur facility to Rubicon Research for Rs 149 crores
