The promoter of JB Chemicals & Pharmaceuticals Ltd. sold 5.8% stake in the company for Rs 1,460 crore through an open market transaction on Thursday.
The New York and Hong Kong-based investment firm— Tau Investment Holdings offloaded 89.83 lakh shares or 5.8% at Rs 1625 apiece, according to a bulk deal data on NSE.
Tau Investment held 53.66% in the company as of December 2024.
Kotak Mahindra Mutual Fund mopped up 12.3 lakh shares or 0.79% stake at Rs 1,625 apiece.
On Wednesday, sources informed NDTV Profit that the pharmaceutical firm will sell up to 15.9 million shares in a block valued at Rs 2,576 crore. The shares were to be offered at a price of Rs 1,625 apiece, the sources had said.
