Cipla promoters may sell 1.72% stake worth Rs 2,000 crore via block deal

The floor price for the Cipla share sale has been set at Rs 1,442 per share, reflecting a 6 per cent discount to the current market price

Promoters of Cipla Limited are expected to sell shares worth Rs 2,000 crore through a block deal, according to sources cited in a CNBC-TV18 report. Samina Hamied and Rumana Hamied –daughters of MK Hamied, vice-chair and non-executive director on the Cipla board—are planning to sell a 1.72 per cent stake in the company.

 

 The floor price for the sale has been set at Rs 1,442 per share, reflecting a 6 per cent discount to the current market price. Kotak Securities is likely to serve as the broker for the transaction. The block deal is described as a clean-out trade, indicating that the promoters intend to completely exit their holdings.

 

 

Earlier in May, the promoters of Cipla had sold a 2.53 per cent stake for Rs 2,751 crore in a block deal on the NSE. According to the NSE block deal data, Shirin Hamied, wife of MK Hamied,  her two daughters, and Okasa Pharma Private Ltd, all categorised as the promoter group, had then sold 2.04 crore shares at Rs 1,345 apiece. Cipla’s shares on the BSE closed at Rs 1,532 on November 29, marking a 2.63 per cent increase for the day.

 

Cipla’s Q2 financial performance  

 

In the quarter ending September 2024, Cipla reported a consolidated net profit of Rs 1,303 crore, a 17 per cent increase compared to Rs 1,115 crore in the same period last year. Revenue rose by 9 per cent year-on-year to Rs 7,051 crore, driven by strong sales across markets.  

 

The company achieved its highest-ever EBITDA margin of 26.7 per cent, supported by an improved product mix and operational efficiencies, according to Managing Director and Global CEO Umang Vohra. Cipla’s ‘One-India’ business faced challenges from a changed seasonal pattern, though chronic therapies in the branded prescription segment outperformed market growth.  

 

The consumer health division recorded a robust 21 per cent year-on-year growth, with flagship products like Nicotex, Omnigel, and Cipladine maintaining their market leadership.   

 

Cipla’s shares rose to an intraday high of Rs 1,547.70 on the NSE before closing 2.76 per cent higher at Rs 1,533. Over the past 12 months, the stock has gained 27.66 per cent, with a 22.61 per cent increase year-to-date.