Pharmaceutical major Cipla’s promoters offloaded 2.53% stake in the company for about Rs 2,750 crore through block deals to create liquidity for activities including philanthropy.
The promoters – Shirin Hamied, Samina Hamied, Rumana Hamied and Okasa Pharma – offloaded 20.45 million shares through the block deals on Wednesday. Post the transaction, the entire promoter group continues to hold 31.67% stake in the company, Cipla said in a stock exchange update.
ICICI Prudential MF bought 0.68% stake for Rs 743.25 crore, Aditya Birla Sunlife MF bought 0.28% stake for Rs 308.81 crore, while that by DSP MF was 0.12% for Rs 133.56 crore and Saudi Central Bank also bought 0.12% stake for Rs 128.50 crore, stock exchange data showed.
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BOFA Securities, Canadian Pacific Railway Company Pension Plan, Government of Singapore and Monetary Authority of Singapore were among the 60 buyers. The deals took place at Rs 1,345 a share.
Rumana Hamied sold 4.94 million shares or 0.61% stake for Rs 664.87 crore, while Samina Hamied sold 8.95 million shares or 1.11% stake for Rs 1,204.41 crore. Shirin Hamied sold 6.36 million shares or 0.79% stake for Rs 855.82 crore and Oksaka Pharma sold 0.19 million shares or 0.02% stake for Rs 25.47 crore.
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Prior to the deal, these promoters held a total of 4.26% stake in the company with Shirin Hamied holding 0.79% stake, while that of Samina Hamied is at 2.22%. Rumana Hamied had 1.23% stake, while that by Okasa Pharma, a promoter group company, is 0.02%. The promoter group held a 33.47% stake in the company, with the majority 13.4% held by MK Hamied, its non-executive vice chairman.
Separately, Cipla has entered into definitive agreements to make further investments of up to Rs 26 crore in Achira Labs, an associate company, in multiple tranches, subject to completion of certain milestones.
On Wednesday, Cipla’s shares closed up 3.61% at Rs 1,405.95 on the BSE.
