Samina and Rumana Hamied Sell 1.72% Stake in Cipla for Rs 2,111 Crore, Reducing Promoter Holdings

Samina Hamied and Rumana Hamied, key figures in Cipla, sold their 1.72% stake in the company for Rs 2,111 crore. This transaction was executed through open market deals. Prominent investors like the Singapore government, Societe Generale, and Abu Dhabi Investment Authority acquired shares in Cipla.

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The block deal data from the National Stock Exchange (NSE) reveals that Samina sold 89.54 lakh shares, while Rumana offloaded 49.43 lakh shares. This equates to a 1.11% and 0.61% stake, respectively. The shares were sold at an average price of Rs 1,518.75 each, making the total transaction value Rs 2,110.76 crore.

Impact on Cipla's Promoter Holdings

Following this sale, the combined promoter and promoter group holding in Cipla decreased from 30.92% to 29.2%. Other buyers included DSP Mutual Fund, Axis MF, Aditya Birla Sun Life MF, ICICI Prudential MF, Motilal Oswal MF, SBI Life Insurance, and Tata AIA Life Insurance.

Samina and Rumana are nieces of Y K Hamied, Cipla's non-executive chairman. Cipla's shares dropped by 1.36%, closing at Rs 1,513 on the NSE after the sale.

Cipla's Financial Performance

In October, Cipla announced a 17% rise in consolidated net profit to Rs 1,303 crore for the September quarter. This growth was attributed to strong sales across various markets. In comparison, the company had reported a net profit of Rs 1,115 crore during the same period last year.

Earlier in May, Shirin Hamied, Rumana Hamied, Samina Hamied, and Okasa Pharma Pvt Ltd had sold a 2.53% equity stake in Cipla for Rs 2,750 crore.

Cipla was established by Khwaja Abdul Hamied in 1935 and has since grown into a major pharmaceutical player.