Cipla up by 4% after promoters sold their stake

Cipla’s stock increased by 4% after its promoter family and Okasa Pharma sold their 2.52% stake via 3 block deals.

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The block deals included a total of 2.04 cr shares worth Rs 2,637 cr.

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This is not the first time that the promoter family has sold its stake, in 2020 also it sold 2.5% of its total stake in the open market. They had a total stake of 33.47%.

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This stake offload is part of the succession part of the company. As per reports Blackstone, Baring Asia, and Torrent Pharma have tried to buy this stake in a non-binding offer but have not been successful.

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Cipla’s shares made an intraday high of Rs. 1428.45 on Wednesday from the previous closing of Rs. 1357.35.

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The promoter family includes Yusuf Hamied (chairman), MK Hamied and his daughter Samina Hamied.

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Cipla up by 4% after promoters sold their stake

Cipla’s stock increased by 4% after its promoter family and Okasa Pharma sold their 2.52% stake via 3 block deals.

Share hike

The block deals included a total of 2.04 cr shares worth Rs 2,637 cr.

Block deal

This is not the first time that the promoter family has sold its stake, in 2020 also it sold 2.5% of its total stake in the open market. They had a total stake of 33.47%.

Not the first selloff

This stake offload is part of the succession part of the company. As per reports Blackstone, Baring Asia, and Torrent Pharma have tried to buy this stake in a non-binding offer but have not been successful.

Succession plan

Cipla’s shares made an intraday high of Rs. 1428.45 on Wednesday from the previous closing of Rs. 1357.35.

Share price

The promoter family includes Yusuf Hamied (chairman), MK Hamied and his daughter Samina Hamied.

Promoter family

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