Major Stake Shuffle: Key Investors Acquire HCG Shares

Morgan Stanley, Nippon India Mutual Fund, and others acquired 63 lakh HCG shares from CVC Capital Partners for Rs 438 crore. This transaction decreased CVC's stake, boosting investor presence. KKR previously became HCG's largest shareholder following a major acquisition move.

Morgan Stanley and Nippon India Mutual Fund have led a significant purchase of shares in HealthCare Global Enterprises (HCG), buying 63 lakh shares valued at Rs 438 crore. These shares were acquired from private equity firm CVC Capital Partners through an open market transaction, as per recent data from the National Stock Exchange (NSE).

Joining Morgan Stanley and Nippon India Mutual Fund in this purchase were Motilal Oswal MF and Plutus Wealth Management. On transaction day, these entities collectively bought a 4.52 percent stake in the Bangalore-headquartered oncology hospital chain at an average price of Rs 695 per share.

Consequently, CVC Capital Partners, via its Luxembourg-based affiliate Aceso Company, reduced its holding in HCG from 8.76 percent to 4.24 percent. Earlier this year, KKR emerged as the largest shareholder of HCG, agreeing to a major stake acquisition deal valued at USD 400 million.

(With inputs from agencies.)