Ami Organics shares saw a spike of 8 percent on December 21, looking at a major high as Sensex recovered on Thursday. This comes after around 46 lakh shares of the company exchanged hands in a major block deal.

Ami Organics share prices are now up by 8 percent after major block deal.

The share price of Ami Organics closed at 1,170 apiece on Thursday, looking at an overall spike of 7.95 percent today. The reason behind this spike was the buyout of 12.5 percent stake in the company by multiple bidders.

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Three individuals on Thursday divested a 12.5 per cent stake in pharmaceutical company Ami Organics for 474 crore through open market transactions.

ICICI Prudential Mutual Fund, Malabar India Fund, Bofa Securities Europe SA, Goldman Sachs Investments Mauritius I, Morgan Stanley Asia Singapore, Valuequest Investment Advisors were among the buyers of the shares.

The shares of the company were sold today on the National Stock Exchange (NSE) by Dhwani Girishkumar Chovatia, Girishkumar Limbabhai Chovatia, and Kiranben Girishbhai Chovatia, three individual shareholders of Ami Organics.

Dhwani Girishkumar Chovatia disposed of 7.89 lakh shares of Ami Organics, Girishkumar Limbabhai Chovatia offloaded 19.70 lakh shares, and Kiranben Girishbhai Chovatia sold 18.40 lakh shares, according to the data available on the NSE site.

The aggregator deal value amounted to 473.82 crore, while the shares were disposed of by the stakeholders at 1,030-1,030.12 per piece. However, the share prices of Ami Organics saw a major spike soon after the shares exchanged hands.

In a separate bulk deal on the BSE, three entities, including promoters Jigar Harish Mehta and Onward Software Technologies pared an 8.5 per cent stake in Onward Technologies for 119 crore through open market transactions. Infinity Direct Holdings also divested a 6.7 per cent stake in the firm.

Jigar Harish Mehta and Onward Software Technologies (now known as JHM Enterprises) sold 2 lakh shares each of Onward Technologies, while Infinity Direct Holdings offloaded 15 lakh shares, collectively amounting to an 8.46 per cent stake in the company, as per the data.

(With inputs from PTI)

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