Almost a month after a Malaysian firm reportedly pulled out of talks to buy a stake in Fortis Healthcare, one of the promoters of the company sold 13.5 million shares to a foreign investor. In other news, a Japanese bank bought shares worth about Rs 450 crore in Reliance Capital.
Fortis Healthcare, in which Malaysia's Integrated Healthcare Holdings (IHH) was rumoured to be interested in picking up a stake, saw its share price plunge after the talks did not fructify.
Meanwhile, Moneycontrol.com reported that Fortis Healthcare Holdings sold 13.5 million shares in two tranches (4.90 million shares at Rs 150.02 apiece and 8.6 million shares at Rs 150.91 on the NSE.
Also read: Fortis Healthcare shares crash despite company keeping options open on stake sale
Fortis Healthcare shares were trading at Rs 151 on the BSE at around 2.30 pm on Wednesday.
Promoters, including Malvinder and Shivinder, own 42.96 percent in Fortis Healthcare, according to the shareholding pattern as of June 30, 2017 filed by the company with the BSE. Foreign portfolio investors hold 32.65 percent.
Reliance Capital, whose interests include insurance, finance and mutual funds, saw Sumitomo Mitsui Trust Bank of Japan (SMTB) buying shares worth around Rs 450 crore in open market transaction, news agency PTI quoted sources as saying.
Reliance Capital shares were down 1.53 percent to Rs 659 apiece at around 2.42 pm on the BSE.
In the first two weeks last month, Anil Ambani's Reliance Capital decided to dilute its stake in two subsidiaries — Reliance General Insurance and Reliance Nippon Life Asset Management Company — to raise anywhere between Rs 1,500 and Rs 2,700 crore.
Reliance Nippon Life Asset Management is the asset manager of Reliance Mutual Fund, one of the three largest fund houses in India.
"Initially we will be listing 10% and as per the SEBI listing guidelines over the next three years we will be going up to 25%," Chief Executive Sundeep Sikka, said on June 7, 2017. Reliance Capital owns 51 percent in the company while Japan's Nippon Life has a 44.5 percent stake.
A few days later, Reliance General Insurance spoke about partial stake sale to a strategic partner; Reliance Capital currently holds 100 percent in the venture.
