Ruby QC Exits Akums Drugs

Ruby QC Investment Holdings Pte, which is linked to Quadria Capital, sold all of its shares in Akums Drugs & Pharmaceuticals to ICICI Prudential Mutual Fund.

They sold 72.78 lakh shares, which is 4.62% of the company, for ₹311.5 crore.

The shares were sold at an average price of ₹428 each.

After the sale, the stock price of Akums Drugs closed at ₹443.70, which is higher than the sale price.

Akums Drugs had its initial public offering (IPO) last year at a price between ₹646 and ₹679.

After reaching a high of ₹1,066.65 right after the IPO, the stock has been going down.