Adar Poonawalla: Serum Institute of India (SII) CEO Adar Poonawala has sold his entire 5.15 percent stake in Panacea Biotech. He has sold all his shares for Rs 118 crore under the open market deal. These shares have been bought by SII. For now, he has zero stakes in the company making this vaccine. Both Adar Poonawala and Serum Institute of India bought shares in Panaka Biotech.
373.85 per share sold
Poonawala sold 31,57,034 shares of Panacea at a price of Rs 373.85 per share, giving him a total of Rs 118.02 crore, as per the Bombay Stock Exchange (BSE) outright deal data. At the same time, these shares have been bought by SII in a separate deal at the same price. According to Panacea’s March 2021 shareholding figures, Poonawala and SII were public shareholders with 5.15 per cent and 4.98 per cent stake in the company.
About Panacea Biotec
Panacea Biotec is a well-known contract manufacturer in the drug industry, which produces vaccines for both humans and animals. This company was formed in 1984 and Panacea Biotec Ltd. Listed in 1995 under the name of Today, Panacea Biotec’s stock is trading more than 1 per cent down to around Rs 380. Earlier on Monday, it had closed at Rs 384.9.
In another deal, Sharda Mines sold shares worth Rs 227.66 crore to Jindal Steel & Power Limited. 52.74 lakh shares of the company were sold at the rate of Rs. 431.62 per share. On Monday, the share price of Jindal Steel & Power Ltd. rose 4.65 per cent to close at Rs 436.55 per share.
