Cipla Promoters Sell 2.53% Stake for Liquidity
May 15, 2024 11:19
Cipla promoters, including Shirin Hamied and Rumana Hamied, have sold a 2.53% stake in the company for liquidity purposes, including philanthropy. The promoter group still holds 31.67% of the company.
Photograph: Danish Siddiqui/Reuters
New Delhi, May 15 (PTI) Drug major Cipla on Wednesday said its promoters have sold a 2.53 per cent stake in the company for the purpose of "creating liquidity".
Certain company promoters sold 2,04,50,375 shares on May 15, 2024, the Mumbai-based drug maker said in a regulatory filing.
"Shirin Hamied, Rumana Hamied, Samina Hamied and Okasa Pharma Pvt Ltd have sold 2.53 per cent shares of Cipla Ltd for the purpose of creating liquidity for specific needs including philanthropy," it added.
Post transaction, the entire promoter group continues to hold 31.67 per cent in the company and remains committed to the future of Cipla Ltd, it added.
Shares of the company were trading 4.21 per cent up at Rs 1,414.05 apiece on the BSE.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.