Cipla Ltd to sell stake in Uganda subsidiary

Cipla Ltd and its wholly owned subsidiaries, Cipla (EU) Limited, UK and Meditab Holdings Limited, Mauritius, have entered into a Share Purchase Agreement with Africa Capitalworks SSA 3 on 14th March 2023 for sale of 51.18% stake held in Cipla Quality Chemical Industries Limited (CQCIL), Uganda. Subsequent to the sale, CQCIL will cease to be a subsidiary of the Company.

Shares of Cipla Limited was last trading in BSE at Rs. 872.20 as compared to the previous close of Rs. 875.15. The total number of shares traded during the day was 183959 in over 12823 trades.

The stock hit an intraday high of Rs. 883.00 and intraday low of 853.50. The net turnover during the day was Rs. 160947470.00.

Source : Equity Bulls

Keywords

Cipla INE059A01026 StakeSale CiplaQualityChemicalIndustries Uganda