Promoters Samina, Rumana Hamied exit Cipla by selling 1.72 percent stake

Written by Ruchika Sharma Published On 2024-12-03T15:54:59+05:30 | Updated On 3 Dec 2024 3:54 PM IST

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New Delhi: Samina Hamied and Rumana Hamied, promoters of the Indian pharmaceutical giant Cipla, have sold their 1.72 percent stake in the company for Rs 2,111 crore through open market transactions.

According to block deal data available on the National Stock Exchange (NSE), Samina Hamied sold 89.54 lakh shares of Cipla, amounting to 1.11 percent stake, while Rumana Hamied offloaded 49.43 lakh shares, representing 0.61 percent stake. The transactions mark their exit from the company.

The shares were disposed of at an average price of Rs 1,518.75 apiece, taking the combined transaction value to Rs 2,110.76 crore, PTI reported.

After the stake sale, the combined promoter and promoter group holding in Cipla has come down to 29.2 per cent from 30.92 per cent.

Singapore government, Societe Generale, Abu Dhabi Investment Authority, BNP Paribas, BofA Securities, Citigroup, Morgan Stanley, Goldman Sachs, Norges Bank, UBS, and Copthall Mauritius bought stakes in Cipla.

DSP Mutual Fund (MF), Axis MF, Aditya Birla Sun Life MF, ICICI Prudential MF, Motilal Oswal MF, SBI Life Insurance, and Tata AIA Life Insurance have also bought shares in Cipla.

Read also: Cipla Vice Chairman M K Hamied resigns after 47 years of service

Samina and Rumana, are nieces of Y K Hamied -- the non-executive chairman of Cipla.

In October, Cipla reported a 17 per cent increase in consolidated net profit to Rs 1,303 crore for the September quarter, driven by robust sales across markets.

The company had reported a net profit of Rs 1,115 crore in the July-September period of the last fiscal.

Read also: Cipla UK arm inks pact to purchase 6.9124 percent stake in Cipla Jiangsu Pharma

In May this year, Shirin Hamied, Rumana Hamied, Samina Hamied, and Okasa Pharma Pvt Ltd sold 2.53 per cent equity stake in Cipla for Rs 2,750 crore.

Cipla was founded by Khwaja Abdul Hamied in 1935

Samina HamiedRumana Hamiedciplacipla newsAbu Dhabi Investment AuthorityBNP ParibasBofA SecuritiesCitigroupMorgan StanleyGoldman SachsNorges BankUBSCopthall Mauritius

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