A noteworthy development has emerged as the intended sale of about 33.5% equity in Cipla, a prominent pharmaceutical company, faces challenges due to increasing disagreements among its founders regarding a shared valuation, according to ETNow sources. The rift among Cipla’s founders, which includes Y.K. Hamied, the executive chairman with a stake exceeding 25%, has sparked possibilities of a potential delay in concluding the deal. The deal is being worked on for past two months and further delay is expected until a unanimous agreement is reached on the valuation, introducing uncertainties into the market. In additional to this, the remaining promoter group, holding around 8% of the company, has been showing divergent thinking on certain critical issues, further complicating the negotiation process. Torrent Pharma, a pharmaceutical company, has started discussions with private equity firms. They are looking into creating a group to make an offer for the substantial stake owned by Cipla’s founders. Dr. Reddy’s Laboratories is also in the mix as another potential buyer in this acquisition situation. The situation became more complex when the international private equity firm, Blackstone pulled back its proposal to acquire the stake. This decision is seen as being influenced by the high purchase costs, highlighting the complex financial intricacies associated with the transaction. Cipla has maintained silence, refraining from providing any official comment or clarification on the matter
