GQG Partners buys Max Healthcare shares for Rs 415 crore

New Delhi: GQG Partners on Monday acquired shares of hospital chain Max Healthcare Institute for Rs 415 crore through an open market transaction.

According to the bulk deal data available with the National Stock Exchange (NSE), GQG Partners Emerging Markets Equity Fund bought 75,50,000 lakh shares of the firm.

The shares were purchased at an average price of Rs 549.70 apiece, taking the transaction value to Rs 415 crore.

Details about the sellers could not be immediately ascertained.

Shares of Max Healthcare Institute gained nearly 1 per cent to close at Rs 550.45 apiece on the NSE. During the day, the scrip also touched its 52-week high of Rs 558.85 per share on the bourse.

In a separate bulk deal, Morgan Stanley Investment Funds offloaded 9.60 lakh shares of Gland Pharma for Rs 89 crore.

Morgan Stanley Investment Funds Emerging Markets Equity Fund sold 9,60,271 shares at an average price of Rs 930.69 apiece. This took the deal value to Rs 89.37 crore.

On Monday, shares of Gland Pharma tumbled 16.12 per cent to close at Rs 893.85 apiece on the NSE.