Westbridge Crossover today sold 1.56 per cent stake in diagnostic chain Dr Lal PathLabs for nearly 123 crore through an open market transaction.
According to bulk deal data available with BSE, Westbridge Crossover Fund LLC offloaded a total of 12,91,920 shares, amounting to 1.56 per cent stake of Dr Lal PathLabs.
The scrips were sold at an average price of Rs 950.27 apiece, valuing the transaction at Rs 122.76 crore, the data showed.
The buyer(s) of the shares could not be ascertained immediately.
As of December quarter, Westbridge Crossover Fund held 1.06 crore shares or 12.86 per cent stake in Dr Lal PathLabs.
The scrip of Dr Lal PathLabs closed at Rs 950.50 on the BSE, down 2.56 per cent from the previous close.
Westbridge Crossover Fund is part of investment firm Westbridge Capital that manages over USD 2 billion of capital and focuses on investments in India.
Westbridge Capital was co-founded by KP Balaraj, Sumir Chadha, SK Jain and Sandeep Singhal. The same team of four also co-founded Sequoia Capital, India.
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