Alkem Labs: Promoters Sell Stake for Rs 930 Crore

New Delhi, Jun 2 (PTI) Two promoter entities of Alkem Laboratories on Tuesday divested a 1.5 per cent stake in the pharmaceutical company for Rs 930 crore through open market transactions.

A total of 17,88,220 shares representing a 1.49 per cent stake were offloaded in Mumbai-based Alkem Laboratories by Jayanti Sinha and Samprada & Nanhamati Singh Family Trust, as per the block deal data available on the NSE.

The shares were disposed of at an average price of Rs 5,200 apiece, taking the transaction value to Rs 929.87 crore.


Following the stake sale, Jayanti Sinha, part of the promoter group of Alkem Laboratories, has exited the firm. Also, the holding of promoters dropped to 49.71 per cent from 51.20 per cent.

Meanwhile, ICICI Prudential Mutual Fund (MF), HDFC MF, Edelweiss MF, Nippon India MF, DSP MF, BNP Paribas, Societe Generale, Morgan Stanley, and Goldman Sachs were the buyers who picked up the shares.

Shares of Alkem Laboratories fell 1.42 per cent to close at Rs 5,239 apiece on the NSE.