Ajanta Pharma promoters sell 4.3% stake in the company

23 Dec 2022 , 12:12 PM

In open market transactions on Thursday, Ajanta Pharma’s promoter entities sold 4.3 % of their shares for Rs 637 crore.

Numerous funds, including 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, were among the more than two dozen purchases.

According to block deal data filed with the National Stock Exchange, Aayush Agrawal Trust and Ravi Agrawal Trust sold 54,92,846 shares, representing a 4.3 % holding in Ajanta Pharma (NSE).

The transaction value increased to Rs 637.22 crore when the shares were sold at an average price of Rs 1,160.1 per share. The stake sale reduced the shareholding of the promoter and promoter group firms from 70.48 % to 66.18 percent.

On the NSE, Ajanta Pharma’s shares closed 5.22% higher at Rs 1,233. Specialty pharmaceutical formulation business Ajanta Pharma is situated in Mumbai.