HDFC Mutual Fund has acquired a 3.19% stake in Entero Healthcare Solutions through a block deal valued at ₹235.6 crore. This major purchase, executed at ₹1,695 per share, comes as early shareholder Prasid Uno Family Trust continues to reduce its position in the pharmacy distribution company.
HDFC Mutual Fund has strengthened its position in the pharmaceutical distribution sector by acquiring a 3.19% stake in Entero Healthcare Solutions. The transaction took place through an open-market block deal, with the fund purchasing 13.9 lakh shares at a price of ₹1,695 per share, totaling approximately ₹235.6 crore.
The shares were sold by the Prasid Uno Family Trust, the investment vehicle linked to Medlife co-founder Tushar Kumar. This sale follows a pattern of divestment by early shareholders, as the Trust has notably reduced its holding by 7.39 percentage points during the September quarter, including the sale of 32.18 lakh shares. Investors often monitor these large block trades to understand shifts in ownership from early private investors to institutional funds.
Following the transaction, Entero Healthcare shares closed 3.94% higher at ₹1,732.30 on the National Stock Exchange, suggesting that the entry of a large institutional buyer was viewed positively by the market. For investors, the long-term monitorable remains the company's ability to maintain revenue growth and manage margins in the highly competitive pharmaceutical distribution space.
The trading session also saw other significant institutional reshuffling. State Street Global Advisors sold a 0.97% stake in Sigachi Industries for ₹11.13 crore. Meanwhile, US-based Croll Reynolds International divested a 0.74% stake in engineering company Mazda for ₹3.91 crore. Infrastructure player Welspun Enterprises also saw selling activity, with Authum Investment & Infrastructure offloading a 0.53% stake for ₹57.28 crore, continuing its trend of trimming exposure to the company.
Veegaland Developers also saw active trading during its debut day on the stock exchange. Promoter Chittilappilly Thomas Kochuouseph signaled confidence by increasing his holding with an additional 1.64% stake acquisition worth ₹11.7 crore. The stock ended its first day of trading 4.5% above its issue price, rounding off a busy day of block deals across various sectors.