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Monday, June 14, 2021

Adar Poonawalla offloads entire stake in Panacea Biotec for Rs 118 crore

Adar Poonawalla sold 31,57,034 shares of Panacea Biotec at a price of Rs 373.85 apiece, data available on the BSE showed. The total value of the transaction was a little over Rs 118 crore. Serum Institute of India (SII) picked the shares at the same price.

By: Express Web Desk | New Delhi |
Updated: May 18, 2021 1:34:35 pm
Adar Poonawalla, Adar Poonawalla SII, Adar Poonawalla Serum InstituteSerum Institute of India (SII) CEO Adar Poonawalla. (File)

Serum Institute of India (SII) CEO Adar Poonawalla offloaded his entire stake in Panacea Biotec in a block deal on Monday. He had a 5.15 per cent shareholding in the firm, which amounted for over Rs 118 crore and were picked by SII.

Poonawalla sold 31,57,034 shares of Panacea Biotec at a price of Rs 373.85 apiece, data available on the BSE showed. The total value of the transaction was a little over Rs 118 crore (Rs 1,18,02,57,160.90).

His company SII picked the shares at the same price, the BSE data showed.

As per shareholding data for March quarter, both Poonawalla and SII were public shareholders in the firm and held 5.15 per cent and 4.98 per cent stake respectively in Panacea Biotec, news agency PTI reported.

The Panacea Biotec stock on Monday had ended at Rs 384.90 apiece, up 1.16 per cent from the previous close.

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