Capital Group sells 1.8 pc stake in Poly Medicure for Rs 302 cr

New Delhi, Jan 16 (PTI) Financial services firm Capital Group on Friday divested a 1.8 per cent stake in medtech firm Poly Medicure for Rs 302 crore through open market transactions.

US-based Capital Group, through its affiliate SmallCap World Fund Inc, offloaded a total of 18,37,064 shares, representing a 1.81 per cent stake in Poly Medicure on the NSE and BSE, as per the bulk deal data available on the stock exchanges.

The shares were disposed of at an average price of Rs 1,645 apiece on the NSE and BSE, taking the combined transaction value to Rs 302.19 crore.

At the end of the September quarter, SmallCap World Fund Inc hold a 2.02 per cent stake in the City-based Poly Medicure Ltd (Polymed).

Details of the buyers of Poly Medicure's shares could not be ascertained on the stock exchanges.

Shares of Poly Medicure fell 1.49 per cent to close at Rs 1,642 apiece on the NSE, while the scrip of the company went down by 1.39 per cent to settle at Rs 1,645.10 per piece on the BSE. PTI HG HG BAL BAL