Fosun Pharma sells a stake in Gland Pharma through a block trade, according to two reports. Economic Times says Fosun Pharma offloads about 99 lakh shares, representing roughly a 6% stake, for about ₹2,800 crore, lowering its holding to 45.77%. It also reports that the transaction pushes Gland Pharma shares to end higher on the day, at ₹2,932.40.
Business Line says Fosun Pharma sells about a 4.5% stake for ₹2,121 crore, and notes the move is the second major stake sale by Fosun Pharma in Gland Pharma in a little over two years. The outlets differ on the exact stake percentage and deal value, and Economic Times provides additional details on named institutional buyers, including Kotak, Axis, and ICICI Prudential Mutual Funds.
Overall, the articles agree the block deal reduces Fosun Pharma’s ownership and involves institutional purchasers, but they present different figures for the percentage sold and proceeds.
