Lighthouse Advisors Divests 2.4% Stake in Poly Medicure for Rs 444 Crore

In a significant move within the Indian financial market, Lighthouse Advisors India, a private equity firm, executed a substantial transaction by selling a 2.4 per cent stake in Poly Medicure, a leading medical consumables company. The deal, carried out through an open market transaction on the National Stock Exchange (NSE), amounted to Rs 444 crore. This divestment by Mumbai-based Lighthouse Advisors, via its affiliate Lighthouse India III Equity Investors Ltd, involved offloading 22.76 lakh shares at an average price of Rs 1,950.03 each, culminating in a transaction value of Rs 443.88 crore.

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The identity of the buyers who acquired the stake in Poly Medicure remains undisclosed. Following the transaction, shares of Poly Medicure witnessed a positive uptick, rising 2.99 per cent to close at Rs 2,061 apiece on the NSE. This sale marks another significant divestment by Lighthouse Advisors India in Poly Medicure, following a Rs 200 crore share sale earlier in February.

In a related development within the market, Devansh Trademart LLP, associated with Gujarat Fluorochemicals as one of its promoters, also engaged in a notable transaction. Through a separate bulk deal on the NSE, Devansh Trademart sold a 1.14 per cent stake in Gujarat Fluorochemicals for Rs 414 crore. The transaction involved disposing of 12.50 lakh shares at an average price of Rs 3,317.32 each, leading to a deal value of Rs 414.66 crore.

Post-transaction, Devansh Trademart's holding in Gujarat Fluorochemicals decreased to 4.92 per cent from an earlier stake of 6.06 per cent. Consequently, the combined shareholding of promoter and promoter group entities in Gujarat Fluorochemicals now stands at 62.67 per cent, reduced from 63.81 per cent.

The stock performance of Gujarat Fluorochemicals experienced a slight decline post this transaction, with its scrip falling by 0.67 per cent to end at Rs 3,372 per piece on the NSE. Gujarat Fluorochemicals Ltd (GFL), part of the INOXGFL Group, is recognized for its specialization in the speciality chemicals sector.

These transactions underscore the dynamic nature of equity dealings within India's healthcare and chemical sectors, reflecting strategic shifts among stakeholders and investors alike. While the buyers' details in both transactions remain undisclosed, these moves are indicative of the ongoing adjustments and realignments within these industries.