Torrent Investments, Torrent Pharmaceuticals' promoter firm, sold a 2.9% share in the company for Rs 3,086 crore in open market transactions.

According to BSE bulk trade data, Torrent Investments Pvt Ltd sold 99.44 lakh shares, representing a 2.94 percent interest in Torrent Pharmaceuticals.

The shares were sold at prices ranging from Rs 3,103.07 to Rs 3,104.40 each, for a total transaction value of Rs 3,086.37 crore.

Following the equity sale, the combined holding of Torrent Pharmaceuticals' promoters fell to 68.31% from 71.25 percent.

The BSE could not provide information about the buyers of Torrent Pharmaceuticals shares.

Last week, Torrent Pharmaceuticals reported a 17% increase in consolidated profit after tax to Rs 453 crore in the September quarter, driven by strong domestic sales.

Revenues increased to Rs 2,889 crore during the reviewed period, up from Rs 2,660 crore the previous year.

The business reported a 13% growth in India revenues to Rs 1,632 crore, driven by outperformance in focus therapies.

Torrent Pharmaceuticals' shares slid 2.30 percent on Wednesday, closing at Rs 3,137.15 each on the BSE.