Tanla Platforms advances 5%, hits record high as two PE firms pick stake

Shares of Tanla Platforms (formerly known as Tanla Solutions) were locked in the 5 per cent upper circuit for the fourth straight day, and hit a fresh record high of Rs 435.75, on the BSE on Wednesday after two overseas private equity (PE) players bought more than 9 per cent stake in the company via block deals.

American Funds Insurance Series A/c International Fund purchased 8.6 million shares or 6.32 per cent stake, while Amansa Investments has acquired 4.08 million shares of 3 per cent stake in Tanla Platforms at price of Rs 391.30 per share. Besides, Mobile Techsol Private Limited, the promoter group, has also increased its stake by buying 1.71 million shares or 1.25 per cent stake in the company.