India’s Ajanta Pharma promoter sells stake worth about 10.24 billion rupees

June 9 (Reuters) – A promoter entity of India’s Ajanta Pharma sold shares worth 10.24 billion rupees ($107.4 million) via bulk deal on Tuesday, according to exchange data.

Here are the details:

• Ravi Agrawal Trust, a promoter group entity of the drugmaker, sold 3.5 million shares, representing about 2.8% stake, according to bulk deal data from the National Stock Exchange of India

• Shares were sold at 2,968 rupees each, which is at a 0.03% discount to Monday’s closing price

• Kotak Mahindra Mutual Fund and Aditya Birla Sun Life Mutual Fund bought 2.1 million and 1.3 million shares of Ajanta Pharma, respectively

• Ravi Agrawal Trust held 16.2 million shares in the firm, equivalent to a 13% stake, according to exchange data as of March-end

• In December 2022, promoters Ravi Agrawal Trust and Aayush Agrawal Trust had together sold about 4.6% stake in Ajanta Pharma via a block deal, according to an Economic Times report.

($1 = 95.3500 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Shailesh Kuber)