Lighthouse Advisors Sells Poly Medicure Stake for Rs 444 Crore

New Delhi, Jun 21 (PTI) Private equity firm Lighthouse Advisors India on Friday divested a 2.4 per cent stake in Poly Medicure for Rs 444 crore through an open market transaction.

Mumbai-based Lighthouse Advisors India through its affiliate, Lighthouse India III Equity Investors Ltd, sold shares of medical consumables company Polymed Medicure through a bulk deal on the National Stock Exchange (NSE).

As per the data, Lighthouse India III Equity Investors offloaded 22.76 lakh shares, amounting to a 2.4 per cent stake in Poly Medicure.

The shares were disposed of at an average price of Rs 1,950.03 apiece, taking the transaction value to Rs 443.88 crore.

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

Shares of Poly Medicure rose 2.99 per cent to settle at Rs 2,061 apiece on the NSE.

In February, Lighthouse Advisors India sold shares of medical consumables company Poly Medicure for Rs 200 crore.

In a separate bulk deal on the NSE, Devansh Trademart LLP, one of the promoters of Gujarat Fluorochemicals, sold a 1.14 per cent stake in the speciality chemicals maker for Rs 414 crore.

As per the data available, Devansh Trademart disposed of 12.50 lakh shares of Gujarat Fluorochemicals at an average price of Rs 3,317.32, taking the deal value to Rs 414.66 crore.

After the share sale, Devansh Trademart's stake in Gujarat Fluorochemicals has declined to 4.92 per cent from 6.06 per cent.

Also, the combined shareholding of promoter and promoter group entities' in Noida-based Gujarat Fluorochemicals has reduced to 62.67 per cent from 63.81 per cent.

Details of the buyers of Gujarat Flourochemicals shares could not be ascertained.

The scrip of Gujarat Flourochemicals slipped marginally by 0.67 per cent to end at Rs 3,372 per piece on the NSE.

Gujarat Fluorochemicals Ltd (GFL), is a part of the INOXGFL Group.