Alkem Labs Promoter Sells 1.4% Stake for Rs 828 Cr

New Delhi, Jun 4 (PTI) Jayanti Sinha, one of the promoter group of Alkem Laboratories, on Wednesday sold a 1.4 per cent stake in the pharmaceutical company for Rs 828 crore through an open market transaction.

Following the stake sale, Sinha's holding in Alkem Laboratories declined to 1.04 per cent from 2.46 per cent.

According to the bulk deal data available on the BSE, Jayanti Sinha offloaded 17 lakh shares, or 1.42 per cent stake, in Alkem Laboratories.

The shares were disposed of at an average price of Rs 4,874.61 apiece, taking the transaction value to Rs 828.68 crore.

Details of the buyers of Alkem Laboratories' shares could not be ascertained on the BSE.

Shares of Alkem Laboratories settled 2.51 per cent lower to close at Rs 4,867.40 apiece on the BSE.

In a separate bulk deal on the NSE, Dalmia Cement (Bharat) offloaded 1 crore, or 1.12 per cent stake, in Indian Energy Exchange (IEX) for Rs 201 crore through an open market transaction.

The shares were sold at an average price of Rs 201.01 per piece, taking the transaction value to Rs 201.03 crore.

Details of the buyers of IEX's shares could not be identified on the National Stock Exchange (NSE).

The scrip of Indian Energy Exchange went up 0.51 per cent to settle at Rs 202.20 apiece on the NSE.