Alkem Laboratories Shareholder Trims Stake For Rs 487 Crore

A shareholder of Alkem Laboratories Ltd. sold a 0.71% stake in the company for Rs 487.2 crore through open market transactions on Thursday.

The Samprada and Nanhamati Singh Family Trust offloaded 8.5 lakh shares at Rs 5,732.15 apiece, according to the block deal data on the NSE.

ICICI Prudential Life Insurance Co. bought 1.97 lakh shares or a 0.16% stake. Morgan Stanley Asia Singapore Pte.-Odi mopped up 0.98 lakh shares or a 0.08% stake and Tata Mutual Fund acquired 0.87 lakh shares or a 0.07% stake at Rs 5,732.15 apiece.

In June, promoter Seema Singh sold a 0.3% stake in the company for Rs 177 crore through an open market transaction.

Shares of Alkem Laboratories closed 0.47% lower at Rs 5,767.10 apiece on the BSE, compared to 0.18% rise in the benchmark Sensex.