Torrent Pharmaceuticals shares dropped 3.15% to ₹3,114.35 as of 9:19 am on the NSE after a significant large trade. Approximately 1.04 crore shares, equating to 3.1% of equity, exchanged hands at ₹3,108 per share, amounting to ₹3,238.9 crore.
As per CNBC TV18 –
- Stake Sale: Torrent Investments plans to sell up to a 2.9% stake in Torrent Pharma via block deals.
- Floor Price: Set at ₹3,022.71 per share.
- Base Size: Represents 2.4% of total equity, with an option to increase by 0.5%.
- Issue Size: Base size is ₹2,500 crore, with an upsizing option of ₹500 crore.
- Lock-up Period: A 120-day lock-up is in place, restricting further sales of shares within this timeframe.
- Current Holding: Torrent Investments held a 71.25% stake in Torrent Pharma as of the end of Q2.
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torrent pharma