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Serum Institute CEO Adar Poonawalla Sells Full Stake in Panacea Biotec


Serum Institute CEO Adar Poonawalla Sells Full Stake in Panacea Biotec
SHARES

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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