Ipca Laboratorties promoter sells 1.6% stake for Rs 600 crore

Usha Madhukar Chandurkar, one of the promoters of Ipca Laboratories, on Wednesday divested a 1.6 per cent stake in the pharmaceutical company for Rs 600 crore through an open market transaction. According to the bulk deal data available with the BSE, Usha Madhukar Chandurkar offloaded 40 lakh shares, amounting to a 1.6 per cent stake in Ipca Laboratories.

The shares were disposed of at an average price of Rs 1,501.52 apiece, taking the aggregate value to Rs 600.61 crore.

After the latest transaction, the holding of promoters and promoter entities of Ipca Laboratories came down to 44.7 per cent from 46.3 per cent.


Details of buyers of Ipca Laboratories' shares could not be ascertained on the BSE.

On Wednesday, shares of Ipca Laboratories fell 2.68 per cent to settle at Rs 1,516.05 per piece on the BSE.