Capital Group Divests Stake in Neuland Laboratories for Rs 756 Crore

Capital Group sold a 3.77% stake in Neuland Laboratories for Rs 756 crore. The sale was conducted via SmallCap World Fund Inc on the NSE. Despite the transaction value reaching Rs 756.60 crore, details about the buyers remain undisclosed. Neuland shares fell by 5.54% after the sale.

In a significant financial move, Capital Group has sold its 3.77% stake in Neuland Laboratories, netting Rs 756 crore through an open market transaction.

The sale was executed by SmallCap World Fund Inc, a Capital Group offshoot, via a bulk deal on the National Stock Exchange.

Despite the high-value transaction, specific details about the buyers remain unavailable, though Neuland's stock closed down 5.54% post-announcement.

(With inputs from agencies.)