Cipla promoters offload 2.53% stake to create liquidity

New Delhi: Drug major Cipla on Wednesday said its promoters have sold a 2.53 per cent stake in the company for the purpose of "creating liquidity".

Certain company promoters sold 2,04,50,375 shares on May 15, 2024, the Mumbai-based drug maker said in a regulatory filing.

"Shirin Hamied, Rumana Hamied, Samina Hamied and Okasa Pharma Pvt Ltd have sold 2.53 per cent shares of Cipla Ltd for the purpose of creating liquidity for specific needs including philanthropy," it added.

Post transaction, the entire promoter group continues to hold 31.67 per cent in the company and remains committed to the future of Cipla Ltd, it added.

Shares of the company were trading 4.21 per cent up at Rs 1,414.05 apiece on the BSE.