Tanla Platforms Limited previously known as Tanla Solutions is a cloud communications provider based in Hyderabad. The stock price, which had closed yesterday at Rs.415, opened today 5% higher at Rs.435.75 – a new high and also its 5% UC where it remains frozen.

The stock, which this month was added to the MSCI India Domestic Small Cap Index, zoomed to a new high on news that two PE funds – American Funds Insurance and Amansa Investments, together bought a 9% stake in the company.

American Funds bought 6.32% stake and Amansa bought 3% stake at a price of Rs.391.30/share.

The promoter group, Mobile Techsol also hiked its stake in the company by another 1.25%. It had held a small 0.23% stake till end of Q2FY21. Total promoter stake is at 39.92% and now goes up to 41.17%.