Shares of Medplus took a hit and were trading at an intraday low of Rs 815.60 on 31 August after a 12.8% stake changed hands via a block deal.

Around 1.5 crore shares that amount to 12.8% stake of the company changed hands at an average price of Rs 860 per share, for a total transaction value of Rs 1,319 crore.

Initially, it was not identified who was involved in this transaction, but the media outlet CNBC-TV18 reported that earlier, Lavender Rose and Premji Invest Opportunities Fund were looking to sell a total of 8.1% stake in the company through a block deal.

As of June, Lavender Rose holds a 17,24% stake in Medplus, whereas Premji Invest Opportunities Funds holds a 14.11% stake.

MedPlus Health Services is one of the largest pharmacy chains in India, consisting of online pharmacies, diagnostic services, and other amenities.

The company currently has a strong presence of 4,000 stores across 581 cities.

At 12:40 pm, the shares of Medplus were trading at Rs 838 or 5.96% below its previous close on NSE.