Stake sale reports speculative: Cipla’s Hamied
Cipla, called all reports of stake sales by the promoters as “speculative". “I would like to inform you as the chairman of Cipla, that all the news that you are hearing is speculative and all the clarifications for this have been made to the stock exchange... And whatever information given to the stock exchange is in the public domain and is public knowledge," said the chairman during the 87th Annual General Meeting on Thursday.
The 87-year-old chairman’s comments come on the back of reports that the company plans to sell 33.47% of its stake in the company to private equity players including Blackstone and Baring Asia. Hamied was responding to three shareholders, who were concerned and wanted clarification regarding the news reports. Y.K.
Hamied owns 18.68% of Cipla, which has a market capitalization of ₹1.01 trillion. As of 30 June 2023, the Cipla family held a 33.4% stake in Cipla Ltd, making them the largest shareholder in the company. The pharma firm in its disclosures on regulatory filings denied any such discussion.
“Pursuant to Regulation 30 of the Sebi (Listing Obligations and Disclosure Requirements) Regulations 2015 (Listing Regulations), we hereby clarify that the Company is not aware of any event that requires disclosure under Listing Regulations. The Company will make appropriate disclosure in compliance with the Listing Regulations as and when any such requirement arises," the company said in a regulatory filing on 27 July. Cipla reported a 45.1% year-on-year (y-o-y) rise in consolidated profit after tax (PAT) at ₹996 crore in the April-June quarter compared to ₹686 crore in the same period last year.
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