CDPQ divests 0.89% stake in Piramal Pharma via open market transaction

CDPQ on Friday liquidated 0.89 per cent stake in Piramal Pharma Ltd for Rs 100 crore through an open market transaction.

Caisse De Depot Et Placement Du Quebec (CDPQ) is a global investment group.

According to large transaction data available with the National Stock Exchange (NSE), CDPQ offloaded a total of 1,05,70,466 shares, corresponding to 0.89 percent of Piramal Pharma’s stake.

The shares were sold at an average price of Rs 94.48 crores each, taking the deal size to Rs 99.86 crore.

After the latest deal, CDPQ’s stake was reduced to 4.64 percent from 5.53 percent at the end of March.

Meanwhile, Vanguard Group acquired more than 62 shares of Piramal Pharma at an average price of Rs 94.71 per share, while the identity of the other buyer(s) is unknown.

Shares of Piramal Pharma rose 3.04 per cent to close at Rs 94.95 apiece on the NSE Stock Exchange.

In a separate syndicated deal, SmallCap World Fund Inc offloaded more than 7 shares of Aavas Financiers for approximately Rs.96 crore through an open market transaction.

SmallCap World Fund Inc sold 7,08,978 shares, equivalent to 0.90 percent stake in Aavas Financiers Ltd, according to data available with NSE.

Shares were disposed of at an average price of Rs 1,350.02 per lot, taking the deal value to Rs 95.71 crore.

Buyers details cannot be confirmed.

On Friday, shares of Aavas Financiers rose 0.98 percent to settle at 1,353.70 rupees per NSE share.

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