General Atlantic Singapore offloads 1.5% stake in KIMS for Rs151 crore; stock rallies ~6%

20 Sep 2022 , 10:04 AM

General Atlantic Singapore sold 12.10 lakh shares of hospital chain Krishna Institute of Medical Sciences (KIMS) for more than Rs151 crore in an open market transaction on Monday.

According to BSE bulk sale data, General Atlantic Singapore Kh Pte sold 12,10,000 shares, representing a 1.5% stake in the company.

The company disposed-off shares at an average price of Rs1,250 per share, aggregating to Rs151.25 crore for the whole transaction.

As per the sources, those shares were picked up by ICICI Prudential Life Insurance company.

As of June 30, 2022, General Atlantic held a 17.24% stake in the company. In September, the company offloaded 16.60 lakh shares of KIMS.

At around 10.07 AM, KIMS was trading 5.57% higher at Rs1,286.85 per piece, against previous close of Rs1,219 on NSE. So far, it hit intraday high of Rs1,286.90. 

In a separate transaction, the promoter entity of Advanced Enzyme Technologies also disposed-off shares for more than Rs69 crore through an open market transaction. It sold 25,73,500 shares, equalling a 2.3% stake in KIMS.

Advanced Vital Enzymes Pvt. Ltd. disposed-off shares at an average price of Rs270 apiece, totalling to Rs69.48 crore. Those shares were picked up by Nalanda India Equity at the same time.

For feedback and suggestions, write to us at [e-mail]