Quadria Capital exits Akums Drugs Pharma; sells 4.6 pc stake for Rs 311 cr

New Delhi, Dec 22 (PTI) Singapore-based Quadria Capital on Monday exited Akums Drugs and Pharmaceuticals by selling its entire 4.62 per cent stake in the company for Rs 311 crore through an open market transaction.

Private equity firm Quadria Capital, through its arm Ruby QC Investment Holdings Pte Ltd, sold over 72.78 lakh shares, amounting to a 4.62 per cent in Akums, according to the block deal data available on the NSE.

The shares were disposed of at an average price of Rs 428 apiece, taking the deal value to Rs 311.52 crore.

Meanwhile, ICICI Prudential Mutual Fund purchased the same number of shares at the same price, the NSE data showed.

Akums is a contract development and manufacturing organisation.

Shares of Akums Drugs and Pharmaceuticals rose 4.17 per cent to close at Rs 445 apiece on the NSE. PTI HG HG MR MR