Cohesion MK Best Ideas Sub-Trust is a joint venture between Cohesion Investments and Madhusudan Kela.
At the end of the June quarter, Cohesion MK Best held a 2.12% stake in the company, representing 20.76 lakh shares. The BSE shareholding data does not reflect the latest holdings of the Abakkus Diversified Alpha Fund-2, suggesting that Singhania may have either exited the stock or reduced his stake below 1%.
The issue, launched between April 8 and 12, allocated 5% or more of the QIP to 11 funds, including four from ICICI Prudential Mutual Fund and two from Bandhan MF, among others.
Shares were allocated at Rs 455 each, which was a discount of Rs 22.33 per share, or 4.68%, from the floor price of Rs 477.33 per share. From the floor price, the stock has shot up by 62%.Shilpa Medicare’s shares have had an impressive run over the past year, returning 130% compared to the Nifty’s 29% gain.The stock closed at Rs 735 on the NSE on Monday, up Rs 37.20 or 5.33% from Friday’s closing price. The rise followed the company’s announcement that it has successfully completed phase-3 clinical studies of its novel product, SMLNUD07 (Nor Ursodeoxycholic Acid or NorUDCA) tablets. The company expects this product to “revolutionize” the treatment of Non-alcoholic Fatty Liver Disease (NAFLD).
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