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Shares of Archean Chemical Industries plunged 4.92 per cent to settle at Rs 657.40 apiece on the BSE.
Piramal Pure Sources and two different entities on Thursday exited Archean Chemical Industries by promoting their complete 10 per cent shareholding for Rs 822 crore by way of open market transactions.
India Resurgence Fund – Scheme 1 & 2, associates of India Resurgence Fund (IndiaRF), bought shares of the speciality marine chemical producer Archean Chemical Industries by way of separate bulk offers on the BSE.
India Resurgence Fund is an India-focused distressed funding platform, sponsored by Piramal Enterprises Ltd and Bain Capital Credit score.
Piramal Pure Sources additionally offloaded shares of Archean Chemical on the trade.
Practically 1.25 crore shares or 10.13 per cent stake of Chennai-based Archean Chemical Industries modified palms on the bourse.
As per the information obtainable with the BSE, India Resurgence Fund – Scheme 1 & 2 bought a complete of 91.11 lakh shares, amounting to a 7.3 per cent stake in Archean.
Moreover, Piramal Pure Sources offloaded 33.88 lakh shares or 2.75 per cent in speciality marine chemical producer Archean.
The shares had been disposed of at a mean worth of Rs 658 apiece, taking the deal worth to Rs 822.46 crore.
In the meantime, Goldman Sachs acquired 6.28 lakh shares of Archean, and Nishtha Funding & Consultancy picked up 6.2 lakh shares of the corporate.
The shares had been bought within the worth vary of Rs 658-669.22 per piece, taking the mixed transaction worth to Rs 83 crore.
Particulars of the opposite patrons of Archean Chemical Industries shares couldn’t be ascertained.
Shares of Archean Chemical Industries plunged 4.92 per cent to settle at Rs 657.40 apiece on the BSE.
(Solely the headline and movie of this report might have been reworked by the Enterprise Normal employees; the remainder of the content material is auto-generated from a syndicated feed.)
First Printed: Jun 27 2024 | 10:47 PM IST
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