Cipla Promoters Offer 2.53% Stake at ₹2,637 Crore via Block Deal

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Synopsis:

Cipla promoters aim to sell a 2.53% stake worth ₹2,637 crore through a block deal, offering 20.45 million shares at ₹1,289.50 - ₹1,357.35 per share. This move occurs amidst a strong 2024, with Cipla's stock up 45%.

Cipla News Today

Pharma major Cipla's promoters and related entities plan to sell up to 2.53% stake in the company via a block deal, aiming for a total value of ₹2,637 crore.

The stake sale involves offering approximately 20.45 million shares within a price range of ₹1,289.50 to ₹1,357.35 per share, reflecting a slight discount compared to Tuesday’s closing share price.

Explore: Cipla Share Price

Stakeholder Composition

The selling shareholders include Shirin Hamied, Samina Hamied, Rumana Hamied, and Okasa Pharma Private Limited, collectively holding a 33.47% stake in Cipla. Samina had previously stepped down from her executive role citing personal reasons.

Presently, the promoters hold a combined stake of 4.26% in Cipla, with individual holdings as follows: Shirin Hamied (0.79%), Samina Hamied (2.22%), Rumana Hamied (1.23%), and Okasa Pharma (0.02%).

Additional ReadCipla Ltd. – A Closer Look

Previous Speculations & Market Performance

Last year, there were reports of the promoters considering a stake sale, indicating a continuing interest in exploring strategic shifts.

Cipla's stock has seen significant growth in 2024, rising by 45%, outpacing the Nifty 50 index's 21.3% gain.

Additional Read: Cipla Q4 Results

Management of the Sale Process

Kotak Securities Ltd is overseeing the sale process, ensuring transparency and efficiency in the transaction. This stake sale represents a continuation of the promoters' strategic evaluation of their holdings within Cipla, aiming to potentially realign their investment portfolios.

Sources:

https://www.thehindubusinessline.com/companies/cipla-promoters-to-sell-up-to-25-stake-for-2637-crore/article68175557.ece

https://www.livemint.com/companies/cipla-promoters-plan-to-sell-2-53-stake-11715697676337.html

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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