Cipla promoters sell 2.53% stake worth Rs 2,600 cr to fund philanthropy.
Cipla promoters sell 2.53% stake for liquidity, citing philanthropic and specific needs.
Cipla announced on Wednesday that the promoters have sold 2.53 per cent of the company's shares to generate liquidity for various needs, including philanthropy.
The Mumbai-based pharmaceutical company clarified in a notification to the stock exchanges that Shirin Hamied, Rumana Hamied, Samina Hamied, and Okasa Pharma Private Limited, all part of the promoter group, conducted the sale.
Despite the transaction, the entire promoter group, including those acting in concert, still retains 31.67 per cent ownership in Cipla and remains dedicated to its future. At the close of March, the promoters collectively held 33.47 per cent of the company's shares.
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