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Goldman Sachs buys stake in Lord’s Mark Industries after 50% surge
Goldman Sachs Investments Mauritius I Limited bought 51 lakh shares for ₹42.8 crore, and the company said promoters sold about 1.04 crore shares for net proceeds of roughly ₹87.4 crore to fund its medical device expansion.
Goldman Sachs Investments Mauritius I Limited has acquired a stake in Lord’s Mark Industries through a bulk share deal on 18 September, purchasing 51 lakh equity shares at ₹84 per share. The transaction was valued at about ₹42.84 crore, according to the company’s disclosures.
In a separate transaction the company said its promoters sold 1,03,56,983 equity shares via a block deal and open market transaction on the BSE on the same date. That sale generated aggregate net proceeds of around ₹87.39 crore, and the promoter confirmed the majority of the funds would be reinvested.
Lord’s Mark Industries said the reinvestment is proposed to support the expansion of its medical device unit through a viable and acceptable means. The company added that the proceeds have been credited to the promoter’s bank account and that the planned reinvestment is intended to back its medical device expansion plans.
The BSE-listed company is described as diversified across healthcare and MedTech, renewable energy and LED lighting, and specialised paper products. Its healthcare and MedTech segment makes diagnostic kits, biochemistry reagents, and medical devices, and the stock has risen 50% in less than two months, with gains cited of 8.87% over the past week.