On Tuesday, Lakumi Trust and Nicomac Machinery jointly sold a 4.9 percent stake in Gland Pharma for ₹1,411 crore through open market transactions. This involved the sale of 81.20 lakh shares of Gland Pharma on the National Stock Exchange (NSE).
According to NSE data, Lakumi Trust sold 61.65 lakh shares, and Nicomac Machinery sold more than 19.55 lakh shares. This resulted in Lakumi Trust owning 3.74 percent and Nicomac Machinery owning 1.18 percent of the company, respectively.
The shares were sold within the price range of ₹1,735.31 to ₹1,739.10 per share, totaling ₹1,411.57 crore.
After this sale, Nicomac Machinery sold its entire 1.18 percent stake in the company and withdrew its investment. The buyers of Gland Pharma’s shares have not been disclosed.
Gland Pharma’s shares decreased by 2.83 percent, closing at ₹1,807 each on the NSE on April 9.
In other transactions, TPG Asia VII SF PTE sold 56.54 lakh shares, equivalent to a 1.93 percent stake in Five Star Business Finance, at an average price of ₹752.02.
In Nirlon, Sadafuli Finvest, a promoter entity, sold 9,07,302 shares, amounting to a 1.01 percent stake, at an average price of ₹430. Meanwhile, ICICI Prudential Mutual Fund acquired 9,07,000 shares at the same price of ₹430 per share.
During the session, Edelweiss Financial Services saw 53.24 lakh shares traded, representing a 0.56 percent stake in the company. Pabrai Investment Fund 3 sold the shares to CLSA Global Markets PTE at ₹74.5 per share.
Until December 2023, Pabrai Investment Fund 3 held a 2.28 percent stake in the company.
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