Shares of North India-based hospital chain Park Medi World are in focus as the company has informed exchanges that Kotak Mahindra Mutual Fund has purchased shares of Park Medi World Ltd., increasing its stake in the company to more than 5 per cent. The investment was made through various schemes of the mutual fund. “We would like to inform you that Kotak Mahindra Mutual Fund (KMMF) has acquired equity shares of Park Medi World Limited, constituting more than 5.00% of the issued equity share capital of the company,” Kotak said.
Mutual Fund Holding Crosses 5 Per Cent
Prior to the acquisition, Kotak Mahindra Mutual Fund held 21,591,213 shares in the company, representing a 4.9 per cent stake.
It subsequently purchased an additional 175,164 shares, equivalent to 0.04 per cent. Following this purchase, the mutual fund’s total holding increased to 21,766,377 shares, representing a 5.03 per cent stake in the company.
Park Medi World Share Price
The stock started the trading session in the red at Rs 192.20 against the previous close of Rs 192.55. During the day, it touched the intraday high and low of Rs 193.45 respectively. Last seen, the stock was trading at Rs 181.50, representing a fall of 5.75 per cent from the previous close. The market cap of the company stood at Rs 7,839.55 crore. On the NSE, the stock was trading 3.97 per cent or Rs 7.65 lower at Rs 184.91.
Park Medi World to acquire KP Institute of Medical Sciences
The company recently announced the acquisition of Agra-based KP Institute of Medical Sciences (KPIMS) in an all-cash deal worth Rs 245 crore.
The transaction covers the purchase of the entire existing shareholding of KPIMS and is expected to strengthen Park Medi World’s hospital network in northern India. According to a regulatory exchange filing, Park Medi World will, under the agreement, take full ownership of KPIMS.
ALSO READ | FASTag annual pass price hike: NHAI increases fee, users to pay more from April 1 – Full details here
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
