Quadria Capital Sells Stake in Akums for Rs 311 Crore

Quadria Capital sold its 4.62% stake in Akums Drugs and Pharmaceuticals for Rs 311 crore through an open market transaction. The sale was facilitated by Ruby QC Investment Holdings, which divested 72.78 lakh shares at Rs 428 apiece. ICICI Prudential Mutual Fund acquired the shares.

Singapore-based private equity firm Quadria Capital exited its investment in Akums Drugs and Pharmaceuticals, selling its entire 4.62 percent stake for Rs 311 crore. The divestment occurred through an open market transaction on Monday.

Ruby QC Investment Holdings Pte Ltd, a subsidiary of Quadria Capital, sold over 72.78 lakh shares at an average price of Rs 428 each. This transaction fetched a total of Rs 311.52 crore, according to data from the National Stock Exchange (NSE).

On the other hand, ICICI Prudential Mutual Fund acquired the same number of shares at the equivalent price, reinforcing its position in the contract development and manufacturing organization, Akums. Subsequently, Akums' shares saw a 4.17 percent increase, closing at Rs 445 on the NSE.

(With inputs from agencies.)