Kotak Mahindra's Strategic Move: A Major Stake in Ami Organics

Kotak Mahindra Mutual Fund has acquired a 6.6% stake in Ami Organics for nearly Rs 301 crore via open market transactions, impacting the promoter's holding. Meanwhile, SAIF Partners reduced its stake in Ixigo's parent company, Le Travenues Technology, by selling 43 lakh shares for Rs 76 crore.

Kotak Mahindra Mutual Fund made a significant investment on Monday, purchasing a 6.6 percent stake in the pharmaceutical company Ami Organics. The transaction, conducted through open market deals, totaled nearly Rs 301 crore, as per data from the National Stock Exchange (NSE).

The mutual fund acquired 26.97 lakh shares at an average price of Rs 1,115 each, marking the Gujarat-based company's growth. This acquisition resulted in a decrease in the promoters' shareholding in Ami Organics, which fell from 35.96 percent to 29.36 percent.

Concurrently, SAIF Partners reduced its holdings in Le Travenues Technology, the parent company of Ixigo, by 1.1 percent. Selling at an average price of Rs 178 per share, the equity firm generated Rs 76.54 crore from the transactions conducted on both BSE and NSE.

(With inputs from agencies.)