MUMBAI: The promoter family of pharma major Cipla is likely to sell about 2.5% of company equity for about Rs 2,650 crore through block deals on Wednesday. The block is expected to be sold in the price range of Rs 1,289-1,357 per share, sources said.
At the lower end of the price band, the stocks would be sold at a discount of 5% to Cipla’s closing price on Tuesday.BSE data showed that at the end of March 2024, the promoters’ holding in the company was nearly 33.5%.
At the lower end of the price band, the stocks would be sold at a discount of 5% to Cipla’s closing price on Tuesday.BSE data showed that at the end of March 2024, the promoters’ holding in the company was nearly 33.5%.