Indegene share price jumps 3% as Premji Invest's affiliate, Societe Generale and others pick stake
Indegene shares recovered Wednesday's losses by surging as much as 3 per cent in Thursday's session after the stakes of the company exchange hands in open market transactions.
At 10:10 am, the scrip climbed to day's high to ₹ 608.80 apiece on June 5.
US-based private equity firm Carlyle Group recently sold its entire 10.2 per cent holding in the company, leading to a 4 per cent drop in the stock on Wednesday.
According to NSE data, Carlyle Group, CA Dawn Investments, offloaded the shares through a block deal, with IIFL Capital Services Ltd. and Kotak Securities Ltd. acting as bookrunners. The shares were sold in the price range of ₹ 591.02 to ₹ 591.84 each.
However, Premji Invest's affiliate PI Opportunities AIF, US-based Capital Group, French firm Societe Generale, Luxembourg-based Eastbridge Group, and Abakkus Asset Manager collectively acquired 1.06 crore shares — a total of 4.42 per cent stake in Indegene — for a total of ₹ 627 crore, at a price between ₹ 591 and ₹ 591.48 per share.
East Bridge Capital Master Fund I acquired a 0.24% stake for ₹ 128 crore, while Societe Generale picked up 18.79 lakh shares, amounting to a 0.21% holding, for ₹ 111 crore. Capital Group's Small Cap World Fund also invested ₹ 108 crore in shares, and PI Opportunities, supported by Azim Premji, contributed ₹ 100 crore.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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