Samina Hamied and Rumana Hamied, who are part of the promoter group of Cipla Ltd., sold 1.72% stake in the company on Monday.
The pharmaceutical major, while informing about the development in an exchange filing, added that a total of 1.39 shares were part of the transaction, which was carried through open market sale.
Samina sold a total of 89.54 lakh shares, whereas Rumana sold 49.43 lakh, the filing showed. The company did not mention the total transaction value or the price at which the shares were sold.
However, earlier on Nov. 29, NDTV Profit had viewed a term sheet and reported that promoters Samina and Rumana would exit the pharmaceutical company and offload stakes worth Rs 2,004 crore through a block deal on Monday and that the shares would be sold at Rs 1,442 per share.
The promoter group held a 31.66% stake in the Mumbai-headquartered company before the sale of equity, while after it, their holding stands reduced at 29.94%.
Key promoters Y. K. Hamied and M. K. Hamied continue to hold 18.64% stake and 3.45% equity in the company, respectively. And, among the other members of the promoter group, Sophie Ahmed and Kamil Hamied still hold equity of 5.69% and 1.35%, respectively.
The promoter group also includes Farida Hamied, Shirin Hamied, MN Rajkumar Garments LLP., Shree Riddhi Chemicals LLP., Alps Remedies Pvt., Hamsons Laboratories LLP., and Okasa Pharma Pvt. However, according to the exchange filing, they don't hold any stake in the company.
Earlier, in June 2024, Monisha Ahmed, one of the persons acting in concert for Monday's transaction, had sold 38 shares.
While the company is listed on both exchanges, BSE and NSE in India, its shares also trade on the Luxembourg Stock Exchange via global depository receipts.
For the September quarter, Cipla's consolidated net profit had risen by 13% to Rs 1,305.01 crore, compared to Rs 1,155.37 crore in the same quarter of the previous fiscal year.
Shares of Cipla Ltd. closed 1.71% lower at Rs 1,508.1 apiece on the BSE, compared to a 0.56% advance in the benchmark Sensex on Monday.
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