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Samina Hamied, Rumana Hamied exit Cipla; sell 1.72% for Rs.2,111-Cr

Economic Times  

Samina Hamied and Rumana Hamied, promoters of the pharmaceutical company Cipla, have exited the company by selling their 1.72% stake for INR 2,111 crore through open market transactions. Samina and Rumana are nieces of Y K Hamied, the non-executive chairman of Cipla.Samina sold 89.54 lakh shares of Cipla, while Rumana Hamied offloaded 49.43 lakh shares, amounting to a 1.11% and 0.61% stake, respectively. The shares were disposed of at an average price of INR 1,518.75 apiece, bringing the combined transaction value to INR 2,110.76 crore.Post-sale, the combined promoter and promoter group holding in Cipla has decreased to 29.2% from 30.92%.Investors including the Singapore government, Societe Generale, Abu Dhabi Investment Authority, BNP Paribas, BofA Securities, Citigroup, Morgan Stanley, Goldman Sachs, Norges Bank, UBS, and Copthall Mauritius bought stakes in Cipla.