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The fund house has acquired over 8.47 lakh equity shares, representing 0.34 per cent stake, for an undisclosed amount, Glenmark Pharmaceuticals said in a filing with the Bombay Stock Exchange.
The fund house purchased equity shares on July 3. Based on the closing price of Rs 236.20 (US$4.87) on BSE that day, the deal values at approximately Rs 2 billion.
The foreign fund house had 4.97 per cent stake in the company before the latest acquisition.
Sloane Robinson LLP bought these shares for eight overseas-based funds while acting as an investment manager.
(PTI)maz
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