Ravi Agrawal Trust, a promoter entity in the company, sold 34.5 lakh shares, representing a 2.8% stake in Ajanta Pharma, for about ₹1,024 crore.
The shares changed hands at an average price of ₹2,968 apiece.
Domestic mutual funds were the main buyers in the transaction. Kotak Mahindra Mutual Fund purchased 21 lakh shares, equivalent to a 1.7% stake, for around ₹624 crore.
Aditya Birla Sun Life Mutual Fund acquired the remaining 13.5 lakh shares, or about 1.1% equity, for nearly ₹400 crore.
The transaction marks a transfer of shares from a promoter-linked entity to large institutional investors, with mutual funds increasing their exposure to the pharmaceutical company.
Block deals are large share transactions conducted through a separate trading window on stock exchanges and are typically used by promoters, institutional investors and large shareholders to buy or sell sizeable stakes without significantly disrupting market prices.
