Kotak Mahindra MF Buys 6.6% Stake in Ami Organics

New Delhi, May 19 (PTI) Kotak Mahindra Mutual Fund on Monday bought a 6.6 per cent stake in pharmaceutical company Ami Organics for nearly Rs 301 crore through open market transactions.

According to the block deal data available on the National Stock Exchange (NSE), Kotak Mahindra Mutual Fund (Kotak MF) purchased 26.97 lakh shares or 6.59 per cent stake in two tranches in Gujarat-based Ami Organics.

The shares were acquired at an average price of Rs 1,115 apiece, taking the combined transaction value to Rs 300.81 crore.

Meanwhile, Ami Organics promoters Vaghasia Chetankumar Chhaganlal and Nareshkumar Ramjibhai Patel divested the same number of shares at the same price on the NSE.

After the stake sale, the combined holding of promoters and promoter group in Ami Organics has declined to 29.36 per cent from 35.96 per cent.

On Monday, shares of Ami Organics rose 5.82 per cent to close at Rs 1,189 apiece on the NSE.

In two separate bulk deals on the NSE and BSE, private equity firm SAIF Partners on Monday trimmed its holding in Le Travenues Technology, the parent company of online travel aggregator Ixigo, by selling a 1.1 per cent stake for Rs 76 crore through open market transactions.

Hong Kong-based SAIF Partners, through its affiliate SAIF Partners India IV, offloaded 43 lakh shares, amounting to a 1.1 per cent stake in Le Travenues Technology, as per the data.

The shares were disposed of at an average price of Rs 178 per piece on the BSE and NSE, taking the aggregate deal value to Rs 76.54 crore.

Details of the buyers of Le Travenues Technology's shares could not be ascertained on the exchanges.

Shares of Le Travenues Technology fell 1.43 per cent to close at Rs 174.75 apiece on the NSE, and the scrip of the company dipped 1.38 per cent to settle at Rs 174.60 apiece on the BSE.