LIC reduces stake in Sun Pharma; sells shares worth Rs 3,821 crore in over 1 year
The shares were sold at an average price of Rs 808.02 apiece, valuing the transactions at a total of Rs 3,881.85 crore.
New Delhi: Life Insurance Corporation on Monday said it has reduced shareholding in Sun Pharmaceuticals by selling 2 percent stake in the company for about Rs 3,882 crore. The shares were sold through open market transactions during the period from May 17, 2021 to July 22, 2022, according to a regulatory filing.
Read also: Sun Pharma plans to increase field force in India by 10 percent in current fiscal
Sun Pharma is an Indian multinational pharmaceutical company headquartered in Mumbai, Maharashtra. The company manufacture and market a large basket of pharmaceutical formulations covering a broad spectrum of chronic and acute therapies. It includes generics, branded generics, specialty, complex or difficult to make technology-intensive products, over-the-counter (OTC), antiretrovirals (ARVs), Active Pharmaceutical Ingredients (APIs) and Intermediates.
Read also: Sun Pharma expects high single-digit top-line growth in FY23
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