Barclays Merchant Bank buys stake in Manappuram, Shilpa Medicare

Barclays Merchant Bank (Singapore) bought 31.74 million shares of Manappuram at Rs 97.30 per share.

Barclays Merchant Bank (Singapore) have bought stake in gold finance company Manappuram Finance and in pharmaceutical company Shilpa Medicare for total consideration of Rs 414 crore through open market transaction.

Barclays Merchant Bank (Singapore) has bought 31.74 million equity shares representing 3.77% stake in Manappuram Finance from Barring India Private Equity Fund III Listed Investment Ltd in block deal through National Stock Exchange (NSE) on Tuesday. The shares were acquired for an average price of Rs 97.30 apiece, bringing the transaction value to Rs 309 crore.

As of December 31, 2016, Barring India Private Equity Fund III held 9.43% stake in Manappuram Finance, the shareholding pattern data shows.

The company on Monday, February 27, said the board of directors of the company will meet on March 17, 2017 to consider the business plan of the company for the financial year 2017-18.

At 12:05 pm; the stock was up 6% at Rs 103 on the NSE as compared to 0.50% rise in the Nifty 50 index.

Barclays Merchant Bank (Singapore) also purchased 1.61 million shares or 2% stake in Shilpa Medicare from CLSA Global Markets PTE Ltd through block deal on the NSE. The shares were acquired for an average price of Rs 651 per share, bringing the transaction value to Rs 105 crore.

CLSA Global Markets PTE Ltd was held 3.21% stake in pharmaceutical company at the end of December quarter.

The stock of Shilpa Medicare was trading 1.5% higher at Rs 650 on the NSE.

In other Indian companies in which Barclays Merchant Bank (Singapore) held more than 1% stake include Sintex Industries, Dabur India, Indoco Remedies and Vardhman Textiles.

Meanwhile, Barclays Global Fund Advisors A/c Ishares India Mauritius Company has acquired six million shares of Grasim Industries at price of Rs 990 per share, bringing the transaction value to Rs 595 crore. Integrated Core Strategies (Asia) PTE Ltd sold 2.93 million shares at Rs 989.66 per share, the NSE data shows. The stock of Grasim Industries was trading 0.5% higher at Rs 995, after falling 2.75% on Tuesday.

Company	Client Name	Type	Shares (Mn)	Price (Rs)
Grasim Ind	BARCLAYS GLOBAL FUND ADVISORS A/C ISHARES INDIA MAURITIUS	BUY	6.01	990.23
Grasim Ind	INTEGRATED CORE STRATEGIES (ASIA) PTE.LTD.	SELL	2.93	989.66
Manappuram Finance	BARCLAYS MERCHANT BANK (SINGAPORE) LIMITED	BUY	31.74	97.30
Manappuram Finance	BARING INDIA PRIVATE EQUITY FUND III LISTED INVESTMENTS LTD	SELL	31.74	97.30
Shilpa Medicare	BARCLAYS MERCHANT BANK (SINGAPORE) LIMITED	BUY	1.61	651.00
Shilpa Medicare	CLSA GLOBAL MARKETS PTE LTD	SELL	1.61	651.00
Source : NSE
Transaction date: 28/02/2017