Pharma major Cipla’s promoters and promoter group entities are looking to sell up to 2.53 per cent stake in the company through a block deal for a total value of ₹2,637 crore, sources said.
The deal value is calculated at the floor price with range being ₹1,289.5 to ₹1,357.35 a share. Cipla’s shares closed at ₹1,358.20, 4 per cent lower on Tuesday.
The selling shareholders are Shirin Hamied, Samina Hamied, Rumana Hamied and Okasa Pharma Private Limited, which is part of the promoter and promoter group.
A message sent to a spokesperson for clarification on the deal was not answered till press time.
The promoter group holds 33.47 per cent stake in the company. The major stake of 13.4 per cent is held by MK Hamied, while Samina holds 2.22 per cent, Shirin 0.79 per cent, Ruaman 1.23 per cent and Okasa Pharma holds a negligible stake.
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In March, Samina had stepped down as the executive vice-chairperson of the company, though she continues as a non-executive director.
Samina, who represented the third generation of the promoter family, said she was stepping down “due to personal and family commitments.” She is the niece of Cipla non-executive chairman YK Hamied, and daughter of his brother and non-executive vice-chairman, MK Hamied.
Last year, Cipla was in the news with reports of the promoters planning to sell stake in the company.