Foreign fund raises stake in Glenmark Pharma to 5.31%
Press Trust of India / Mumbai Jul 07, 2009, 13:09 IST
Foreign fund house Sloane Robinson LLP has raised its stake to 5.31 per cent in Glenmark Pharmaceuticals Ltd through an open market transaction.
The fund house has acquired over 8.47 lakh equity shares, representing 0.34 per cent stake, for an undisclosed amount, Glenmark Pharmaceuticals said in a filing with the Bombay Stock Exchange.
The fund house purchased equity shares on July 3. Based on the closing price of Rs 236.20 on BSE that day, the deal values at approximately Rs 20 crore.
The foreign fund house had 4.97 per cent stake in the company before the latest acquisition.
Sloane Robinson LLP bought these shares for eight overseas-based funds while acting as an investment manager.
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