Zenith Pharmaceuticals sold 1.9% or 7.5 Lakh shares in Strides Arcolab at Rs.328.6 per share of which Goldman Sachs Investments bought 3.1 Lakh shares.

This follows another transaction on 15th January when Zenith sold 5% of its holdings or 20 Lakh shares through .

Zenith Pharmaceuticals is the largest shareholder in Strides Arcolabs. Pre-deal, Zenith, a special vehicle of Symphony Capital Partners, owned 12,452,557 shares in the company for almost five years though the percentage dipped due to other investments in the company.
 

Zenith has been invested in Strides since 1999 and held up to 70% share in it around 2003. Post deal, Zenith' shareholding in Strides Arcolab has come down to around 24.1%.

Around 14% stake is held by financial institutions, including 7.6% stake held by Reliance Mutual Fund while promoters hold only 17% stake in the company.

Established in 1990, Strides is one of India’s leading integrated manufacturer and exporter of finished pharmaceutical dosage forms – both branded and generic. It has have 13 world class plants in India, Singapore, Brazil, Mexico, Poland and Italy. It is planning to acquire a manufacturing facility in Brazil from Aspen Inc.

Zenith Pharmaceuticals | Strides Arcolab | bulk deals | open market