New Delhi, Jun 11 (PTI) US-based investment firm OrbiMed on Wednesday divested a 2.27 per cent stake in Marksans Pharma for Rs 257 crore through an open market transaction.

According to the block deal data available on the NSE, OrbiMed, through its arm OrbiMed Asia IV Mauritius FVCI, sold more than 1.02 crore equity shares or a 2.27 per cent stake in Marksans Pharma.

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The shares were disposed of at an average price of Rs 249.95 apiece, taking the combined deal value to Rs 256.78 crore.

After the stake sale, OrbiMed Asia IV Mauritius FVCI's holding in Marksans Pharma slipped to 8.61 per cent from 10.88 per cent.

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Meanwhile, Citigroup Global Markets Singapore, Societe Generale, Bandhan Mutual Fund, UTI Mutual Fund, Chennai-based Unifi Capital and Subhkam Ventures I were among the buyers of Marksans Pharma shares, as per the data on the National Stock Exchange (NSE).

The shares of Marksans Pharma rose 5.62 per cent to close at Rs 264 apiece on the 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)