Gland Pharma Shares: Two companies sell 4.9% stake in Gland Pharma for Rs 1,411 cr.

Two institutions, Lakumi Trust and Nicomac Machinery, sold 4.9% stake in Gland Pharma for Rs 1,411 crore through an open market transaction on Tuesday. Lakumi Trust and Nicomac Machinery Pvt Ltd sold 81.20 lakh shares of Gland Pharma in separate block transactions on the National Stock Exchange (NSE).

According to data from NSE, Lakumi Trust sold 61.65 lakh shares of Gland Pharma and Nicomac Machinery sold over 19.55 lakh shares, representing 3.74 per cent and 1.18 per cent stake in the company.

The shares were sold within a price range of Rs 1,735.31-1,739.10, taking the transaction value to Rs 1,411.57 crore.

Following the latest transaction, Nicomac Machinery sold its entire 1.18% stake and exited the company.

Details about the buyers of Gland Pharma shares could not be confirmed.

Shares of Gland Pharma fell 2.83 per cent to close at Rs 1,807 per share on the NSE. China’s Fosun Pharma is the promoter of Gland Pharma and holds a 57.86% stake in the company.