Ajanta Pharma Promoter Entity Sells 2.8% Stake in Rs 1,024 Crore Bulk Deal
Bengaluru: A promoter entity of Ajanta Pharma sold shares worth USD 107.4 million (Rs 10.24 billion) via bulk deal on Tuesday, according to exchange data.
Ravi Agrawal Trust, a promoter group entity of the drugmaker, sold 3.5 million shares, representing about 2.8% stake, according to bulk deal data from the National Stock Exchange of India
Shares were sold at 2,968 rupees each, which is at a 0.03% discount to Monday's closing price
Kotak Mahindra Mutual Fund and Aditya Birla Sun Life Mutual Fund bought 2.1 million and 1.3 million shares of Ajanta Pharma, respectively
Ravi Agrawal Trust held 16.2 million shares in the firm, equivalent to a 13% stake, according to exchange data as of March-end
In December 2022, promoters Ravi Agrawal Trust and Aayush Agrawal Trust had together sold about 4.6% stake in Ajanta Pharma via a block deal, according to an Economic Times report.
