Sagility promoter Sagility B V on Friday sold nearly 12 percent of its stake in the company, while Smallcap World Fund Inc acquired an additional 2.89 percent stake in Lotus Developers through open-market transactions on October 30.
Sagility shares reacted to the block deals, opening lower and declining 5.78 percent to close at Rs 42.08 amid heavy trading volumes. In contrast, shares of Sri Lotus Developers and Realty rose 1.36 percent to Rs 245.98 on the NSE, also accompanied by high volumes.
According to bulk-deal data, Sagility B V sold 56 crore equity shares, representing 11.96% of the company's paid-up equity capital. The transaction was valued at Rs 2,394.56 crore. Sagility is a technology-enabled healthcare solutions and services provider focused on US health insurance companies.
The shares were sold at an average price of Rs 42.76 apiece. According to the latest shareholding pattern, Sagility B V held a 50.95% stake in the company.
On the other side, six domestic and global institutional investors collectively acquired a 5.19% stake in Sagility, worth Rs 1,039.32 crore.