Individual sells 2 per cent stake in Eris Lifesciences for Rs 188 crore

Posted on by

On Thursday, someone sold off a 2 percent stake in a pharmaceutical company Iris lifesense For just over Rs 188 crore through an open market transaction.

According to block deal data available with the National Stock Exchange (NSE), Rakesh Shah has disposed of 27 lakh shares, equivalent to 1.98 per cent stake in Eris Lifesciences.

The shares were sold at an average price of Rs 697 per lot, taking the total transaction size to Rs 188.19 crore.

After the latest deal, Rakesh Shah’s stake fell to 9.55 percent from 11.53 percent at the end of the March quarter.

Also read: Portfolio expansion. Eris Lifesciences buys nine dermatology brands from Dr. Read’s for $33 million

HDFC Mutual Fund acquired 20.25 lakh shares.

Shares of Eris Lifesciences rose 1.60 percent to close at 709 rupees apiece on the New York Stock Exchange.

In a separate deal, Satpal Khattar sold 33,000 shares of IIFL Finance for more than Rs 168 crore through an open market transaction, according to aggregated transaction data available with NSE.

Shares were unloaded at an average price of Rs 510.03 apiece, taking the transaction value to Rs 168.31 crore.

Buyers details cannot be confirmed.

On Thursday, shares of IIFL Finance rose nearly 1 per cent to settle at Rs 512.60 a piece on the NSE stock exchange.