Torrent Pharma promoters sell 3% stake to raise Rs.3,087-Cr to invest in new ventures
The Mehta family — promoters of publicly listed, Ahmedabad-based Torrent Pharmaceuticals — have sold 3% stake in the company, raising INR 3,087 crore for investments in new ventures. The family is expected to use the funds for investments in the power business and expand the diagnostic unit. This move will reduce promoter stake from 71.25 % to 68.25 %.The family also owns 53.57 % stake in Torrent Power with a total valuation at INR 87,900 crore in the stock markets.
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