Solara Active Pharma Block Deal: Promoter Entity Buys 4.16% Stake For Rs 99 Crore

Solara Active Pharma Sciences saw a 4.16% stake exchange hands in a block deal on Monday, with promoter Pronomz Ventures LLP being the sole entity buying in on the counter.

Spiracca Ventures LLP sold 20 lakh shares at Rs 495 apiece. The amount aggregates to Rs 99 crore. The firm held 7.72% equity in the company.

The total promoter shareholding in Solara stood at 37.94% as of March, according to BSE data.

Monday also saw another major block deal in Asian Paints. Reliance Industries further pared its stake in Asian Paints, offloading shares worth Rs 1,876 crore.

ICICI Prudential Mutual Fund emerged as the sole buyer in this transaction, acquiring 85 lakh shares at Rs 2,207 apiece from Siddhant Commercials Pvt., according to the block deal data on the NSE.

Solara Active Pharma Sciences is a pharmaceutical company that specialises in the development and manufacturing of active pharmaceutical ingredients and contract manufacturing services. They focus on providing a range of commercial APIs and related services to clients in various therapeutic areas. 

Shares of the company closed 0.07% higher at Rs 505.50 apiece, as compared to a 0.92% advance in the benchmark NSE Nifty 50.