Premji Invest, SBI Mutual Fund sell 6.6 pc stake in MedPlus Health for Rs 552 crore
Mutual Fund on Monday divested 6.6 per cent stake in MedPlus Health Services for Rs 552 crore through open market transactions. MedPlus Health Services is a retail pharmacy and diagnostics chain in India.
Billionaire Azim Premji's PE firm Premji Invest, through its arm PI Opportunities Fund — I, sold 68.93 lakh shares or 5.77 per cent stake in MedPlus Health Services and exited the firm, according to the block deal data on the National Stock Exchange (NSE).
Additionally, SBI Mutual Fund offloaded 10 lakh shares, representing a 0.84 per cent stake in the company.
The shares were sold at an average price of Rs 700 apiece, taking the transaction value to Rs 552.55 crore.
After the stake sale, SBI Mutual Fund's holding in the pharmacy chain has come down to 4.04 per cent from 4.88 per cent.
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