US-based Capital Group has acquired nearly 2 percent equity stake in Mumbai-based Sri Lotus Developers and Realty, while ChrysCapital-backed Sepia Investments has offloaded more than 4 percent stake in Ahmedabad-based pharmaceutical company Corona Remedies through open-market transactions on September 10.
Lotus Developers shares appeared to react to the deal, hitting the 5 percent upper circuit at Rs 207.88 amid heavy volumes on the National Stock Exchange. Meanwhile, Corona Remedies recovered sharply from a gap-down opening and ended the session at Rs 2,200.8, up 0.16 percent.
Smallcap World Fund Inc, a part of California-based Capital Group, bought 95.05 lakh equity shares, representing a 1.94 percent stake in the company, for Rs 190.01 crore at Rs 199.89 per share.
On the other side, promoter Anand Kamalnayan Pandit was the seller in Lotus Developers, offloading 97.7 lakh shares, or a 2 percent stake, for Rs 195.3 crore at Rs 199.9 per share.
ChrysCapital affiliate offloads over 4% stake in Corona Remedies; SBI MF, Amundi buy over 3% stake