<p>New Delhi: Premji Invest and SBI Mutual Fund on Monday divested 6.6 per cent stake in MedPlus Health Services for Rs 552 crore through open market transactions.</p>.<p>MedPlus Health Services is a retail pharmacy and diagnostics chain in India.</p>.<p>Billionaire Azim Premji's PE firm Premji Invest, through its arm PI Opportunities Fund - I, sold 68.93 lakh shares or 5.77 per cent stake in MedPlus Health Services and exited the firm, according to the block deal data on the National Stock Exchange (NSE).</p>.<p>Additionally, SBI Mutual Fund offloaded 10 lakh shares, representing a 0.84 per cent stake in the company.</p>.<p>The shares were sold at an average price of Rs 700 apiece, taking the transaction value to Rs 552.55 crore.</p>.<p>After the stake sale, SBI Mutual Fund's holding in the pharmacy chain has come down to 4.04 per cent from 4.88 per cent.</p>.<p>Meanwhile, Morgan Stanley Asia Singapore, Franklin Templeton Mutual Fund (MF), Invesco MF and Kotak Mahindra MF acquired shares of MedPlus Health at the same price.</p>.<p>Shares of MedPlus Health Services rose 2.10 per cent to close at Rs 719.05 apiece on the NSE.</p>.<p>In August, private equity (PE) major Warburg Pincus exited MedPlus Health Services by selling its entire 11.35 per cent stake in the pharmacy chain for Rs 836 crore. </p>
<p>New Delhi: Premji Invest and SBI Mutual Fund on Monday divested 6.6 per cent stake in MedPlus Health Services for Rs 552 crore through open market transactions.</p>.<p>MedPlus Health Services is a retail pharmacy and diagnostics chain in India.</p>.<p>Billionaire Azim Premji's PE firm Premji Invest, through its arm PI Opportunities Fund - I, sold 68.93 lakh shares or 5.77 per cent stake in MedPlus Health Services and exited the firm, according to the block deal data on the National Stock Exchange (NSE).</p>.<p>Additionally, SBI Mutual Fund offloaded 10 lakh shares, representing a 0.84 per cent stake in the company.</p>.<p>The shares were sold at an average price of Rs 700 apiece, taking the transaction value to Rs 552.55 crore.</p>.<p>After the stake sale, SBI Mutual Fund's holding in the pharmacy chain has come down to 4.04 per cent from 4.88 per cent.</p>.<p>Meanwhile, Morgan Stanley Asia Singapore, Franklin Templeton Mutual Fund (MF), Invesco MF and Kotak Mahindra MF acquired shares of MedPlus Health at the same price.</p>.<p>Shares of MedPlus Health Services rose 2.10 per cent to close at Rs 719.05 apiece on the NSE.</p>.<p>In August, private equity (PE) major Warburg Pincus exited MedPlus Health Services by selling its entire 11.35 per cent stake in the pharmacy chain for Rs 836 crore. </p>