According to a report by CNBC Awaaz, citing sources, the promoters of Cipla Limited are set to divest approximately ₹2,000 crore worth of shares through a block deal likely on Monday. This transaction involves the sale of a 1.72% stake in the company, with a floor price established at ₹1,442 per share, representing a 6% discount to the current market price. Kotak Securities is reportedly acting as the broker for this deal.
This development follows a similar move earlier this year. In May 2024, members of the Hamied family, Cipla’s promoters, sold a 2.53% stake in the company through a block deal valued at approximately ₹2,637 crore.
The proceeds from that sale were intended to fund various liquidity needs, including philanthropic activities.
Financially, Cipla has demonstrated robust performance. In the second quarter of FY25, the company reported a consolidated net profit of ₹1,303 crore, marking a 15% year-on-year increase. Revenue for the same period rose by 5.6% to ₹7,051 crore. This growth was driven by strong demand in both domestic and North American markets, particularly for respiratory and oncology products.
