S&R Associates Represented Broker In ₹14 Billion Sale Of Gland Pharma Equity Shares
S&R Associates Represented Broker In ₹14 Billion Sale Of Gland Pharma Equity Shares
S&R Associates, has recently represented the broker in a significant transaction involving the sale of an aggregate 8.12 million equity shares of Gland Pharma Limited. This bulk deal, amounting to INR 14 billion, was orchestrated by Nicomac Machinery and RP Advisory Services Limited (acting for and on behalf of Lakumi Trust) on the Indian stock exchanges.
In the transaction, two entities, Lakumi Trust and Nicomac Machinery Pvt Ltd, divested a 4.9 percent stake in Gland Pharma, collectively amounting to Rs 1,411 crore. This substantial divestiture involved the sale of 81.20 lakh shares of Gland Pharma through separate bulk deals on the National Stock Exchange (NSE).
Specifically, Lakumi Trust and Nicomac Machinery Pvt Ltd offloaded 61.65 lakh shares and more than 19.55 lakh shares, respectively. These transactions resulted in Lakumi Trust disposing of a 3.74 percent stake and Nicomac Machinery selling a 1.18 percent stake in the pharmaceutical company.
The shares were traded within the price bracket of ₹1,735.31 to ₹1,739.10 per share, culminating in a total transaction value of ₹1,411.57 crore.
S&R Associates played a pivotal role in facilitating this complex deal, with partner Sudip Mahapatra leading the team, accompanied by associates Komal Parakh and Hitoishi Sarkar.
