Shares of Dr Agarwals Health Care fell as much as 7.3% to their day’s low of Rs 503 on the BSE on Wednesday after 4.07 crore shares, representing 12.9% of the company's equity, changed hands through block deals. The transactions were executed at Rs 506.5 per share, taking the total deal value to Rs 2,065 crore.
While buyers and sellers of the transaction were unknown, term sheet details showed that Hyperion Investments, a TPG private equity vehicle and Claymore Investments (Mauritius) were looking to sell an 11% stake in the company. The proposed transaction was valued at Rs 1,750 crore, with an upsize option of 2% worth Rs 250 crore.