Cipla Promoters Sell Stake Worth Rs 2,111 Crore

Samina and Rumana Hamied, promoters of Cipla, sold a 1.72% stake in the company for Rs 2,111 crore via open market. The deal reduced their holding from 30.92% to 29.2%. Major buyers included global investors. Cipla reported a profit surge, increasing 17% to Rs 1,303 crore in Q3.

Samina and Rumana Hamied, key figures behind pharma giant Cipla, recently divested a significant portion of their holdings in the company. Their exit involved a transaction worth Rs 2,111 crore, as they sold a 1.72 percent stake via open market deals.

The sale attracted notable market participants, including the Singapore government and major financial entities such as Societe Generale and Abu Dhabi Investment Authority. According to the National Stock Exchange data, Samina parted with 89.54 lakh shares, while Rumana released 49.43 lakh shares, impacting Cipla's overall promoter holding.

This strategic move reduced their combined holding from 30.92 percent to 29.2 percent. Meanwhile, Cipla's recent quarterly report showed a robust 17 percent profit increase, encouraging global investment interest.

(With inputs from agencies.)