Fidelity Investments Sells Stake in Granules India

Fidelity Investments has divested a 1.3% stake in Granules India, amounting to Rs 191 crore, through open market transactions on the NSE. Several mutual funds and insurance companies acquired the shares. Additionally, BlackRock purchased shares in Protean eGov Technologies in a separate BSE transaction, valued at Rs 90 crore.

On Friday, Fidelity Investments divested a 1.3% stake in Granules India, equivalent to Rs 191 crore, through open market transactions. The US-based investment giant utilized three of its arms—Fidelity India Fund, Dendana Invest Mauritius, and Fidelity Funds - India Focus Fund—to sell shares of the Hyderabad-based drug firm.

The shares, 32 lakh in total, were offloaded at an average price of Rs 596 each, as per National Stock Exchange (NSE) data. Notable buyers included Aditya Birla Sun Life Mutual Fund, Paulomi Ketankumar Doshi, Bandhan MF, Edelweiss MF, ITI MF, SBI Life Insurance, and Kotak Mahindra Life Insurance Company. Granules India's shares fell 1.51% to close at Rs 591 per piece on the NSE.

In a separate stock exchange transaction on the BSE, BlackRock acquired a 1.1% stake, or 4.51 lakh shares, in Protean eGov Technologies for Rs 90 crore. BlackRock, through its affiliate iShares Cybersecurity and Tech ETF, purchased the shares at an average price of Rs 1,999.11 each. Protean eGov Technologies' shares increased by 1.65%, landing at Rs 2,005.65 apiece on the BSE.

(With inputs from agencies.)