'Future Fit' Cipla: Play In Oligonucleotides, Obesity Amid Promoter Stake Action

News on the sale of shares by Cipla’s promoter group, reignited speculation around potential sell-off activities at the front-line Indian company.

That, after certain members of the promoter group - non- executive vice chair M K Hamied’s wife Shirin Hamied, daughters Rumana and Samina and Okasa Pharma Private Limited - sold 2.53% shares of Cipla on 15 May. M K Hamied is the brother of Cipla’s non executive chairman Yusuf K Hamied.

Samina Hamied, till recently Cipla’s executive vice chairperson, had earlier this year stepped down from the position citing “personal and family commitments”, though she continues to be a non-executive director liable to retire by rotation at the company.

The sale of 20,450,375 shares by the members of the promoter group was done at an estimated deal value of around INR26.37bn.

The promoter group, in a note to the Bombay Stock Exchange on 15 May, maintained the sale was done “for the purpose of creating liquidity for specific needs including philanthropy” and that they (including person acting in concert) continue to hold 31.67% in the company and "remain committed" to the future of Cipla.

Speculation, however, has been rife that more is simmering beneath, after wider stake sales talks fell through