The Chief Executive Officer of the Serum Insitute of India (SII), Adar Poonawalla sold his stake of 5.15 per cent valued at ₹118 crores in pharma company Panacea Biotec via an open market transaction on Monday.
Details show that these shares were picked up by SII at the same price albeit in a separate transaction.
According to the BSE (formerly Bombay Stock Exchange) block deal data, the CEO sold 31,57,034 scrips that he privately held in Panacea Biotec at ₹373.85 per share, amounting to ₹118.02 crores overall.
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The news meant that share prices of Panacea Biotec saw a 1.16 per cent increase over the previous day, touching ₹384.9 per share.
Shareholding data from March 2021 reveals that Poonawalla and SII held 5.15 per cent and 4.98 per cent of the stake in Panacea.
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