Drugs Controller suspends license of Medplus Health Services’ subsidiary

22 Dec 2023 , 10:58 PM

As per the reports, Telangana’s Drugs Control Administration suspended Medplus Health Services subsidiary’s license for five days.

According to a regulatory filing with the exchanges, the suspension came as a result of Medplus Health Services subsidiary violating multiple license terms.

Nippon India MF, the Government of Singapore, Steadview, and Fidelity acquired a 6.5% interest in Medplus Health Services earlier this year, totaling 77.87 lakh shares. This transaction was completed at a price range of Rs 856.79-862 per share.

The event occurred after early investors Lavender Rose Investment and PI (Premji Invest) Opportunities Fund each sold 70 lakh shares in open market transactions totaling Rs 1,236 crore in August. The shares were sold between Rs 861.68 and Rs 861.93. They together sold 11.7% of the company’s stock.

MedPlus Health Services closed 2.47% lower at Rs 728 in Friday’s intraday session.

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