Plutus Wealth Management Divests Entire Stake in Yatharth Hospital for Rs 101 Crore
In a move that underscores the dynamic nature of investment in the healthcare sector, Plutus Wealth Management LLP has completely divested its stake in Yatharth Hospital & Trauma Care Services. This transaction took place on Wednesday, marking a significant financial event where Plutus Wealth Management sold its entire 2.9 per cent stake for an impressive sum of Rs 101 crore through an open market transaction.
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The sale was facilitated at an average price of Rs 405.07 per share, totaling the deal’s value at approximately Rs 101.27 crore. This transaction was part of the day’s bulk deal data disclosed by the Bombay Stock Exchange (BSE).
In a parallel development, ICICI Prudential Mutual Fund stepped in to acquire a substantial portion of the divested shares. The fund secured 20 lakh shares of the healthcare provider, with the average purchase price per share hovering around Rs 405. This acquisition translated to an overall transaction value of Rs 81 crore for ICICI Prudential Mutual Fund.
Details regarding other buyers who participated in the transaction were not immediately available. This selling and buying activity had a noticeable effect on the share price of Yatharth Hospital & Trauma Care Services. By the close of trading on the day of the transaction, the company’s shares had experienced a slight decline, dropping by 0.93 per cent to finish at Rs 413.25 per share on the BSE.
The transaction highlights the active involvement of investment firms and mutual funds in the healthcare sector, particularly in companies like Yatharth Hospital & Trauma Care Services, which play a critical role in providing medical and trauma care services. The divestiture by Plutus Wealth Management and subsequent acquisition by ICICI Prudential Mutual Fund evidences the ongoing realignment of investment portfolios in response to evolving market dynamics and the strategic value seen in the healthcare industry.
This significant financial maneuver not only reflects the liquidity within the healthcare market but also indicates a broader interest among heavyweight investors in reallocating resources towards sectors with robust growth potential. The healthcare sector, with its critical importance and resilient demand, continues to attract significant investment, underlining its role as a cornerstone of both societal health and investment portfolios.
