Cipla promoters sell 2,01,69,756 shares

Dr. Y K Hamied, Chairman and Mr MK Hamied, Vice Chairman who are Non-Executive Directors and promoters, have sold 2,01,69,756 shares (representing 2.5% of the total issued and paid-up share capital of the Company). Post this transaction, the promoter group will continue to hold 34.23% in the company. The group remains fully committed and invested in the future of Cipla Limited. The senior promoters who are both in their eighties, intend to use the funds generated from this sale for personal purposes including philanthropy. The promoter group does not plan to sell any further shares in the foreseeable future.

Cipla today is being led by the third generation of the founding family. As a family, we are fully committed to the organisation. I will continue to carry forward the Cipla legacy and drive the company into the future - to achieve new goals and scale new heights.

Shares of Cipla Limited was last trading in BSE at Rs. 921.75 as compared to the previous close of Rs. 955.25. The total number of shares traded during the day was 21215421 in over 22416 trades.

The stock hit an intraday high of Rs. 939.30 and intraday low of 910.05. The net turnover during the day was Rs. 19321517467.00.

Source : Equity Bulls

Keywords

Cipla INE059A01026 Promoters StakeSale