Lighthouse Advisors Offloads Stake in Poly Medicure, Devansh Trademart Sells Gujarat Fluorochemicals Shares

Private equity firm Lighthouse Advisors India, through its affiliate, divested a 2.4% stake in Poly Medicure for Rs 444 crore. Devansh Trademart LLP also sold a 1.14% stake in Gujarat Fluorochemicals for Rs 414 crore. Details of the buyers remain undisclosed.

In a significant transaction on Friday, private equity firm Lighthouse Advisors India divested a 2.4 per cent stake in Poly Medicure for Rs 444 crore via an open market deal.

The Mumbai-based firm, through its affiliate Lighthouse India III Equity Investors Ltd, executed the sale on the National Stock Exchange, offloading 22.76 lakh shares at an average price of Rs 1,950.03 each. This transaction increased Poly Medicure's stock price by 2.99 per cent, closing at Rs 2,061 per share on the NSE.

Similarly, Devansh Trademart LLP, a promoter of Gujarat Fluorochemicals, sold a 1.14 per cent stake for Rs 414 crore. Post-sale, Devansh's holding in Gujarat Fluorochemicals dropped to 4.92 per cent from 6.06 per cent. The company's shares saw a marginal decline, ending at Rs 3,372 per piece.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)