CDPQ pares 0.89% stake in Piramal Pharma for Rs 100 crore

The shares were sold at an average price of Rs 94.48 apiece, taking the transaction size to Rs 99.86 crore.

CDPQ on Friday divested a 0.89 percent stake in Piramal Pharma Ltd for Rs 100 crore through an open market transaction.

Caisse De Depot Et Placement Du Quebec (CDPQ) is a global investment group.

According to the bulk deal data available with the National Stock Exchange (NSE), CDPQ offloaded a total of 1,05,70,466 shares, amounting to a 0.89 per cent stake in Piramal Pharma.

The shares were sold at an average price of Rs 94.48 apiece, taking the transaction size to Rs 99.86 crore.

Post the latest transaction, CDPQ's shareholding has been reduced to 4.64 percent from 5.53 percent at March-end.

Meanwhile, Vanguard Group acquired more than 62 lakh shares of Piramal Pharma at an average price of Rs 94.71 per share, while other buyer(s) identity is not known.

Shares of Piramal Pharma went up 3.04 percent to close at Rs 94.95 per piece on the NSE.

In a separate bulk deal, SmallCap World Fund Inc offloaded more than 7 lakh shares of Aavas Financiers for nearly Rs 96 crore through an open market transaction.

SmallCap World Fund Inc sold 7,08,978 shares, amounting to a 0.90 percent stake in Aavas Financiers Ltd, as per the data available with the NSE.

Shares were disposed of at an average price of Rs 1,350.02 apiece, taking the deal value to Rs 95.71 crore.

Details of the buyers could not be ascertained.

On Friday, shares of Aavas Financiers gained 0.98 percent to settle at Rs 1,353.70 apiece on the NSE.