New Delhi: A public shareholder of pharmaceutical company Concord Biotech on Tuesday sold 3.4 per cent stake in the company for Rs 483 crore through an open market transaction.
According to bulk deal data available with the National Stock Exchange (NSE), 1575773 Ontario Inc sold 35,48,211 shares, equivalent to 3.4 per cent stake in Concord Biotech.
Each share was disposed of at an average price of Rs 1,361.26, taking the value of the deal to Rs 483 crore.
Following the stake sale, 1575773 Ontario Inc's shareholding in Concord Biotech dropped from 5.39 per cent to 1.99 per cent.
Meanwhile, Norges Bank acquired 6 lakh shares or 0.57 per cent stake in Concord Biotech courtesy of state pension fund Globa.
Details of other buyers could not be ascertained.
Shares of Concord Biotech closed 2.41 per cent lower at Rs 1.40 on NSE on Tuesday.
According to bulk deal data available with the National Stock Exchange (NSE), 1575773 Ontario Inc sold 35,48,211 shares, equivalent to 3.4 per cent stake in Concord Biotech.
Each share was disposed of at an average price of Rs 1,361.26, taking the value of the deal to Rs 483 crore.
Following the stake sale, 1575773 Ontario Inc's shareholding in Concord Biotech dropped from 5.39 per cent to 1.99 per cent.
Meanwhile, Norges Bank acquired 6 lakh shares or 0.57 per cent stake in Concord Biotech courtesy of state pension fund Globa.
Details of other buyers could not be ascertained.
Shares of Concord Biotech closed 2.41 per cent lower at Rs 1.40 on NSE on Tuesday.
