New Delhi, Dec 5 (PTI) British International Investment Plc (formerly known as CDC Group Plc) on Monday divested its entire 14.45 per cent stake in multi-speciality pediatric hospital chain Rainbow Children's Medicare Ltd for an estimated Rs 1,078 crore through open market transactions.

Those who picked up the shares of the company are foreign portfolio investors and domestic mutual fund.

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Abu Dhabi Investment Authority, Government of Singapore, Stichting Depositary APG Emerging Markets Equity Pool, India Acorn ICAV - Ashoka India Opportunities Fund and ICICI Prudential Mutual Fund were the buyers of the shares.

British International Investment Plc is the development finance institution owned by the UK government.

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According to the bulk deal data available with the National Stock Exchange (NSE), British International Investment Plc offloaded a total of 1,46,66,112 shares of the company.

The shares were sold at an average price of Rs 735-Rs 735.55 apiece, taking the combined value of the transaction to Rs 1,078.48 crore.

As of quarter ended September, British International Investment Plc owned 14.45 per cent stake in the company, shareholding data showed with the bourse.

On Monday, shares of Rainbow Children's Medicare closed 1.62 per cent lower at Rs 751.75 per scrip on NSE.

In a separate transaction, a promoter entity of chemicals company Gujarat Fluorochemicals Ltd offloaded the company's shares for Rs 590 crore through an open market transaction.

Inox Leasing and Finance Ltd sold 18 lakh scrips, amounting to 1.6 per cent stake in the company, as per the bulk deal data available with the NSE.

The shares were disposed of at an average price of Rs 3,275.44 per piece, taking the aggregate value to Rs 589.57 crore.

As of quarter ended September, Inox Leasing and Finance Ltd owned 54.89 per cent stake in the company, shareholding data showed with the exchange.

Shares of Gujarat Fluorochemicals closed 5.97 per cent lower at Rs 3,243 per share 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)