On May 15, Cipla's shares shot up 4% in their first trading session following three counterblock agreements that were completed on the markets. In the three block trades, almost 2.04 crore shares, or 2.52 percent of the pharmaceutical Cipla, were exchanged.
Moneycontrol was unable to identify the parties involved in the deal right once, but on May 14, CNBC-Awaaz revealed that Okasa Pharma and the promoter family were trying to sell as much as a 2.53 percent share.
According to the CNBC-Awaaz story, the promoter family and Okasa Pharma hoped to make Rs 2,637 crore from the sale of their stake.
The study also disclosed that the sellers are locked in for a period of ninety days following the block deal. The promoter family has a 33.47 percent interest in the company, according to Cipla's most recent ownership statistics.
In February 2020, the promoter family, the Hamieds, also sold off a further 2.5 percent interest through open market transactions. Three members of the Hamied family, who are non-executive members of the Cipla board, are chairman Yusuf Hamied, his younger brother MK Hamied, and his daughter Samina.
