Cipla founding family faces hurdles in stake sale as valuation hits USD 13 billion mark: Bloomberg

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Deliberations are ongoing and no final decision has been made on the deal, the people said. The family members can still revise the asking price lower or decide not to proceed with the sale, according to the people. A spokesperson for the firm didn’t respond to requests for comment.

Cipla’s sales were boosted during the pandemic by Covid-19 treatments such as the license to manufacture and market Gilead Sciences Inc.’s remdesivir in 127 countries including India and South Africa. The company has a presence in more than 80 countries and provides over 1,500 products across various therapeutic categories, its website shows.

Samina Hamied, Cipla’s executive vice-chairperson, is part of the third generation of the founding family, and is a Goldman Sachs Group Inc. alumnus, according to the firm’s website. MK Hamied, her father, is non-executive vice chairman. YK Hamied is her uncle.

Several of Asia’s family-run companies are considering succession plans, depending on whether the next generation wants to take the reins. Mukesh Ambani, 66, said he will spend the next five years as chairman of Reliance Industries Ltd. preparing his children to transform India’s most valuable company. Others are considering selling off their businesses, providing a robust potential pipeline of targets for private equity firms.