Cipla Faces Potential Block Share Sale of Rs 2,637 Crore, Promoters to Offload Stake at Discount

Cipla may witness a block of shares worth Rs 2,637 crore being traded on May 15, as sources inform CNBC-Awaaz that the promoter family and Okasa Pharma are set to sell up to a 2.53 percent stake. The anticipated price range for the Cipla block deal is between Rs 1,289.50 and Rs 1,357.35, representing a maximum discount of 5 percent. Sources further reveal that Kotak Securities is the exclusive broker for the block deal. Additionally, sellers are subjected to a 90-day lock-in period following the scheduled block trade.