Wockhardt promoters sell stake, reinvest proceeds in the company

Certain promoter group entities of Wockhardt Limited ('the Company') have disposed-off a part of their equity shareholding in the Company aggregating to 77,60,000 shares of the existing Total Voting rights of the Company through open market sale on Stock Exchanges platform. The proceeds of the issue has been / will be reinvested in the Company and to meet its own business requirements.

Further, the Promoter and Promoter Group re-emphasizes its complete faith in future growth prospects of the Company and remains fully committed to pursue its long-term business goals by providing all necessary support, whether financial or otherwise, wherever required.

Shares of Wockhardt Limited was last trading in BSE at Rs. 228.50 as compared to the previous close of Rs. 235.50. The total number of shares traded during the day was 580055 in over 2001 trades.

The stock hit an intraday high of Rs. 238.95 and intraday low of 227.25. The net turnover during the day was Rs. 133475855.00.

Source : Equity Bulls

Keywords

Wockhardt INE049B01025 StakeSale ShareSale Promoters Reinvestment