New Delhi: Adar Poonawalla, CEO of Serum Institute of India, on Monday dropped his entire stake in Panacea Biotec amounting to 5.15 percent of the 118 million RSA shareholding through an open market transaction.
The shares were selected by Serum Institute of India (SII).
According to the BSE block transaction data, Poonawalla sold 31.57,034 dissertations he had in the firm at a price of 373.85 Rs per share, bringing the total transaction value to 118.02 cr.
The shares were selected by SII at the same price through a separate transaction.
According to the shareholding data for the quarter of March 2021, both Poonawalla and SII were public shareholders in the business and owned 5.15 percent and 4.98 percent in Panacea, respectively.
Shares of Panacea Biotec ended at 384.9 Rp on Monday, 1.16 percent higher than the previous close period.
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Source: Telangana Today