Shares of Indegene Ltd dropped 4.20% in early trade on Tuesday to ₹593.65 after a large block deal saw 10.9% of the company’s equity change hands, amounting to a total transaction value of ₹1,561 crore.
As per CNBC-TV18, CA Dawn Investments, an affiliate of US-based Carlyle Group, was expected to offload a 10.2% stake in the healthcare technology company via block deals. The transaction involved the sale of 2.44 crore shares at a floor price of ₹580 each, nearly 6.4% lower than the stock’s last traded price. Kotak and IIFL acted as brokers for the deal.
At 9:18 am, Indegene was trading at ₹593.65 on the NSE, down ₹26.05 from its previous close of ₹619.70. The company’s market capitalisation currently stands at ₹141.98 billion.
