RJ Corp Acquires Rs 379 Crore Worth of Global Health Shares in Open Market Transaction

RJ Corp, led by Ravi Kant Jaipuria, has made a significant acquisition in the healthcare sector by purchasing 1.07% or 2.8 million shares of Delhi-based Global Health. The transaction, conducted through an open market deal, amounted to Rs 379 crore, as per BSE bulk deals data.

The shares were acquired at Rs 379 apiece, marking a substantial investment by RJ Corp in Global Health. The selling party, Dunearn Investments Mauritius, divested its holdings, which amounted to a 16.02% stake in Global Health as of December 31, 2023.

Jaipuria, known as the promoter of Devyani International, adds another feather to his cap with this strategic investment. Devyani International operates renowned brands such as KFC, Pizza Hut, and Costa, among others. This move signifies RJ Corp’s intent to diversify its portfolio and expand its presence in the healthcare sector.

Prior to this acquisition, RJ Corp held a 5.52% stake in Global Health. With the latest transaction, RJ Corp strengthens its position in the company, signaling confidence in the growth prospects of Global Health and its contribution to RJ Corp’s overall business strategy.

The acquisition underscores the dynamic nature of the market, with investors seeking strategic opportunities to enhance their portfolios. RJ Corp’s move aligns with its vision of identifying promising ventures and leveraging its expertise to drive growth and value creation.

As the healthcare sector continues to evolve and witness rapid transformation, investments such as these are poised to play a pivotal role in shaping the industry landscape. RJ Corp’s strategic acquisition in Global Health reflects its commitment to exploring new avenues for growth and maximizing shareholder value in the competitive market environment.