Malabar India Fund has bought 2.65 lakh shares or 2.12% stake of Adi Finechem through the open market route. The shares were purchased on an average price of Rs 270 valuing the transaction to Rs 7.17 crore.
Adi Finechem is engaged in the manufacturing of specialty chemicals like Mixed Tocopherol Concentrate, Sterols, Dimer Acid and Linoleic Acid which find application in various industries like neutraceuticals, paints, printing ink, detergents, adhesives, etc.