New Delhi, Aug 31 (PTI) Two entities -- Lavender Rose Investment and PI Opportunities Fund-I -- on Thursday offloaded shares of pharmacy retail chain company Medplus Health Services for Rs 1,206 crore through open market transactions.

Following the share sale, Medplus Health Services tumbled 8.54 per cent to close at Rs 815 apiece on the National Stock Exchange (NSE).

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According to the bulk deal data available with the NSE, Lavender Rose Investment and PI Opportunities Fund-I sold 70 lakh shares each -- or 5.9 per cent stake each.

The shares were disposed of in the range of Rs 861.68-861.93, taking the combined transaction value to Rs 1,206.53 crore.

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After the transaction, the shareholding of Lavender Rose Investment in Medplus has declined to 11.34 per cent stake, while that of PI Opportunities Fund-I reduced to 8.21 per cent, shareholding data with the bourses showed.

Meanwhile, Fidelity Funds-India Focus Fund, Nippon India Mutual Fund, Singapore government and Steadview Capital Mauritius collectively bought 77.87 lakh shares of Medplus Health Services on Thursday.

The shares were acquired in the price range of Rs 856.79-862 apiece.

In a separate bulk deal on the BSE, TA FDI Investors pared a 9 per cent stake in Prudent Corporate Advisory Services for Rs 420 crore through an open market transaction.

TA FDI Investors offloaded 37,37,804 shares, amounting to a 9 per cent stake in Prudent, as per data.

The shares were disposed of at a price of Rs 1,125.07 apiece, taking the aggregate value to Rs 420.52 crore.

India Acorn ICAV, DSP Mutual Fund and Abu Dhabi Investment Authority collectively acquired a total of 27.38 lakh shares of Prudent.

On Thursday, shares of Prudent Corporate Advisory Services plunged 10.08 per cent to close at Rs 1,077.10 each on the BSE.

(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)