Through the sale, the entities are looking at raising close to Rs 650 crore. The minimum price they plan to offer for the sale is Rs 1,113, a 5% discount to the current market price.
On Wednesday, shares of Ajanta Pharma ended 0.6% higher on the National Stock Exchange at Rs 1,171.80.
As of September 30, the total promoter group holding in the company stood at 70.5%. Of this, the two promoter group entities together held 28.73% stake. Jefferies has been appointed as the broker to conduct the transaction.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)