Individual sells 2% stake in Eris Lifesciences for Rs 188 crore

NEW DELHI: An individual on Thursday divested a 2 per cent stake in pharmaceutical company Eris Lifesciences for a little over Rs 188 crore through an open market transaction.


According to the block deal data available with the National Stock Exchange (NSE), Rakesh Shah disposed of 27 lakh shares, amounting to a 1.98 per cent stake in Eris Lifesciences.

The shares were sold at an average price of Rs 697 apiece, taking the aggregate transaction size to Rs 188.19 crore.

Post the latest transaction, Rakesh Shah's shareholding has been reduced to 9.55 per cent from 11.53 per cent stake at the end of March quarter.

HDFC Mutual Fund acquired 20.25 lakh shares.

Shares of Eris Lifesciences rose 1.60 per cent to close at Rs 709 per piece on the NSE.

In a separate transaction, Satpal Khattar sold 33 lakh shares of IIFL Finance for over Rs 168 crore through an open market transaction, as per the bulk deal data available with the NSE.

The shares were offloaded at an average price of Rs 510.03 apiece, taking the transaction value to Rs 168.31 crore.

Details of the buyers could not be ascertained.

On Thursday, shares of IIFL Finance gained nearly 1 per cent to settle at Rs 512.60 per piece on the NSE.