Piramal Natural Resources and two different entities on Thursday exited Archean Chemical Industries with the aid of selling their whole 10 percent shareholding for Rs 822 crore through open market transactions.
India Resurgence Fund – Scheme 1 & 2, affiliates of India Resurgence Fund (IndiaRF), bought shares of the specialty marine chemical producer Archean Chemical Industries via separate bulk deals at the BSE.
India Resurgence Fund is an India-centered distressed investment platform, subsidized by way of Piramal Enterprises Ltd and Bain Capital Credit.
Piramal Natural Resources also offloaded stocks of Archean Chemical on the exchange.
Nearly 1.25 crore shares or 10.13 percent stake of Chennai-based Archean Chemical Industries changed fingers at the bourse.
As in step with the records to be had with the BSE, India Resurgence Fund – Scheme 1 & 2 sold a complete 91.11 lakh stocks, amounting to a 7.3 percent stake in Archean.
Additionally, Piramal Natural Resources offloaded 33.88 lakh shares or 2.75 percent in specialty marine chemical producer Archean.
The shares had been disposed of at an average fee of Rs 658 apiece, taking the deal price to Rs 822.46 crore.
Meanwhile, Goldman Sachs acquired 6.28 lakh stocks of Archean, and Nishtha Investment & Consultancy picked up 6.2 lakh shares of the business enterprise.
The stocks have been purchased inside the fee variety of Rs 658-669.22 per piece, taking the blended transaction price to Rs 83 crore.
Details of the other customers of Archean Chemical Industries stocks could not be ascertained.
Shares of Archean Chemical Industries plunged 4.92 percent to settle at Rs 657.40 apiece at the BSE.
