Cipla Promoters Sell 2.53% Stake for Liquidity, Shares Rise 4.21%
On Wednesday, drug major Cipla announced that its promoters have sold a 2.53 percent stake in the company in order to “create liquidity.” The Mumbai-based drug maker stated…
On Wednesday, drug major Cipla announced that its promoters have sold a 2.53 percent stake in the company in order to “create liquidity.” The Mumbai-based drug maker stated in a regulatory filing that certain company promoters sold 2,04,50,375 shares on May 15, 2024. The statement mentioned, “Shirin Hamied, Rumana Hamied, Samina Hamied, and Okasa Pharma Pvt Ltd have sold 2.53 percent shares of Cipla Ltd to create liquidity for specific needs, including philanthropy.” Following the transaction, the entire promoter group continues to hold 31.67 percent in the company and remains committed to the future of Cipla Ltd. Additionally, the company’s shares were trading 4.21 percent up at Rs 1,414.05 apiece on the BSE.