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  • LIC sells over 2...

LIC sells over 2 percent stake in Sun Pharma for Rs 4699 crore via open market sale

Ruchika SharmaWritten by Ruchika Sharma Published On 2023-09-15T12:39:47+05:30  |  Updated On 15 Sept 2023 12:39 PM IST
LIC sells over 2 percent stake in Sun Pharma for Rs 4699 crore via open market sale
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The shares were sold at an average price of Rs 973.80 per share during the period through an open market sale in an ordinary course of transaction, LIC said.

New Delhi: LIC on Thursday said it has sold 2 per cent of its holding in Sun Pharma for Rs 4,699 crore via open market sale. Following the share sale, there is a decrease of 2 per cent in holding during the period from July 22, 2022 to September 13, 2023.

"Corporation's shareholding in Sun Pharma has diluted from 12,05,24,944 to 7,22,68,890 equity shares decreasing its shareholding from 5.023 per cent to 3.012 per cent of the paid-up capital of the said company," LIC said in a regulatory filing.
Read also: Sun Pharma Gets CDSCO Panel Nod to Manufacture, Market Antidiabetic FDC Drug
The shares were sold at an average price of Rs 973.80 per share during the period through an open market sale in an ordinary course of transaction, it said.
Shares of the country's largest state-owned insurer, LIC, closed at Rs 660.80 apiece on BSE, up by 0.27 per cent. Sun Pharma shares ended 0.8 per cent up at Rs 1,143.60

Read also: Sun Pharma gets rights for marketing cerebral ischemic stroke drug Sovateltide under brand name Tyvalzi in India

Sun Pharma is an Indian multinational pharmaceutical company headquartered in Mumbai, Maharashtra. The company manufactures and markets 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 aslo: Sun Pharma Gets CDSCO panel Nod To Manufacture, Market Sitagliptin, Metformin, Glimepiride antidiabetic FDC

LICsun pharmasun pharma news
Source : with inputs
Ruchika Sharma
Ruchika Sharma

    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

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