Cipla promoters may sell stake worth ₹2,000 cr via block deal
Business Standard|November 30, 2024
Promoters of Cipla Limited are expected to sell shares worth ₹2,000 crore through a block deal, according to sources cited in a CNBC-TV18 report.
Cipla promoters may sell stake worth ₹2,000 cr via block deal

Samina Hamied and Rumana Hamied -daughters of MK Hamied, vice-chair and non-executive director on the Cipla board-are planning to sell a 1.72 per cent stake in the company.

The floor price for the sale has been set at ₹1,442 per share, reflecting a 6 per cent discount to the current market price. Kotak Securities is likely to serve as the broker for the transaction. The block deal is described as a clean-out trade, indicating that the promoters intend to completely exit their holdings.

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