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Granules India Promoter sells 3.09 pecent stake for Rs 304 crore
![Granules India Promoter sells 3.09 pecent stake for Rs 304 crore Granules India Promoter sells 3.09 pecent stake for Rs 304 crore](https://medicaldialogues.in/h-upload/2024/01/23/750x450_230787-granules-50.webp)
Hyderabad: Krishna Prasad Chigurupati, a promoter of Granules India, has sold a 3.09 percent stake in the company for Rs 304 crore through an open market transaction. According to data from the NSE's block deal, Chigurupati sold 75 lakh shares of Granules India.
Dr. Krishna Prasad Chigurupati’s holding as a Promoter of the Company has changed from 34.78 % to 31.69 % of the Paid-up equity share capital of the Company.
According to PTI, Axis Mutual Fund, Dendana Investments (Mauritius), Fidelity Funds India Focus Fund, Fidelity India Fund, Fidelity Korea - India Equity Investment Trust-Mother and Long Term Equity Fund were among the buyers of shares of Granules India.
Read also: Granules India arm gets USFDA nod for Gout flares drug Colchicine
Granules India Limited, incorporated in 1991 is a vertically integrated Indian pharmaceutical company headquartered in Hyderabad. The Company is among the few pharmaceutical companies in the world to be present in the manufacturing of entire value chain – from Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation Intermediates (PFIs) and Finished Dosages (FDs). Its products are being distributed to over 300+ customers in regulated and semi-regulated markets with a global presence extending to over 80+ countries with offices across India, U.S. and U.K. The Company has 7 manufacturing facilities out of which 6 are located in India and 1 in USA and has regulatory approvals from US FDA, EDQM, EU GMP, COFEPRIS, WHO GMP, TGA, K FDA, DEA, MCC and HALAL.
Read also: Granules India bags USFDA nod for Pantoprazole Sodium Delayed Release Tablets
Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751