Ajanta Pharma Promoter Sells Stake for 10.24 Billion Rupees
Ravi Agrawal Trust sold a 2.8% stake in Ajanta Pharma via a bulk deal on Tuesday for 10.24 billion rupees. The transaction involved 3.5 million shares purchased by Kotak Mahindra Mutual Fund and Aditya Birla Sun Life Mutual Fund at 2,968 rupees per share.
Insights:
Ravi Agrawal Trust sold a 2.8% stake in Ajanta Pharma for 10.24 billion rupees ($107.4 million) on Tuesday. The transaction involving 3.5 million shares at 2,968 rupees each follows a similar 4.6% stake sale by the promoter group in December 2022. The deal, executed at a 0.03% discount to the previous close, utilized a conversion rate of 95.3500 Indian rupees per dollar.
