Latest News | Ahan-I Offloads 1.5 Pc Stake in Biocon for Rs 380 Cr

New Delhi, Mar 17 (PTI) Hedge fund Ahan-I Ltd on Friday divested a 1.5 per cent stake in pharmaceutical company Biocon for Rs 380 crore through an open market transaction.

According to the bulk deal data available with NSE, Ahan-I Ltd offloaded 1,89,28,363 equity shares, amounting to a 1.57 per cent stake in the company.

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The shares were disposed of at an average price of Rs 200.74 apiece, taking the aggregate value to Rs 379.96 crore.

As of the December quarter, Ahan-I Ltd owned a 2.15 per cent stake in the company, as per the shareholding data showed with the bourse.

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On Friday, shares of Biocon plunged 6.27 per cent to close at Rs 207.95 per share on the NSE.

In a separate bulk deal, Vanguard group bought shares in supply chain company Delhivery for Rs 309 crore through open market transactions.

Vanguard total international stock index fund and Vanguard emerging markets stock index fund A series of VEIF purchased shares in the company. These funds are managed by the US-based Vanguard Group.

Vanguard total international stock index fund and Vanguard emerging markets stock index fund A series of VEIF bought a total of 95.60 lakh shares in the firm, as per the data available with the NSE.

The shares were acquired at an average price of Rs 323.07 per piece, taking the transaction value to Rs 308.87 crore.

The sellers of the shares are -- Integrated Core Strategies (Asia) Pte and Internet Fund III Pte Ltd (fund managed by Tiger Global Management) sold a total of 94.40 lakh equity shares in the price range of Rs 320.83-Rs 321.21 per share.

Shares of Delhivery fell 2.99 per cent to settle at Rs 321.45 on NSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)