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Cipla promoters sell 2.53% stake in company for Rs 2,637 cr

Cipla promoters sell 2.53% stake in company for Rs 2,637 cr

| @indiablooms | 15 May 2024, 04:48 pm

Mumbai: The promoters of Cipla have sold a 2.53% stake in the company for 'creating liquidity' for specific needs including 'philanthropy', the Mumbai headquartered pharma major said on Wednesday.

Shirin Hamied, Rumana Hamied, Samina Hamied, and Okasa Pharma Private Limited (categorised as a promoter group) have sold 2.53 percent shares of Cipla, the company said in a stock market filing.

"Post transaction, the entire promoter group (including Person Acting in Concert) continues to hold 31.67 percent in the company and remains committed to the future of Cipla Limited," it added.

The promoters owned 33.47 percent of the company's shares in total as of the end of March.

This comes eight months after the talks for promoter stake sales with Torrent Pharmaceuticals failed.

Okasa Pharma, which belongs to another promoter group, along with MK Hamied's wife Shirin and their daughters Samina and Rumana, together divested a stake of around 2.53 percent, fetching an estimated Rs 2,637 crore, reported Business Standard.

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