Samina Hamied and Rumana Hamied, promoters of drug major Cipla, on Monday exited the pharmaceutical company by selling their 1.72 per cent stake for Rs 2,111 crore through open market transactions.

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Singapore government, Societe Generale, Abu Dhabi Investment Authority, BNP Paribas, BofA Securities, Citigroup, Morgan Stanley, Goldman Sachs, Norges Bank, UBS, and Copthall Mauritius bought stakes in Cipla.

According to the block deal data available on the National Stock Exchange (NSE), Samina sold 89.54 lakh shares of Cipla, while Rumana Hamied offloaded 49.43 lakh shares, amounting to a 1.11 per cent and 0.61 per cent stake, respectively.

The shares were disposed of at an average price of Rs 1,518.75 apiece, taking the combined transaction value to Rs 2,110.76 crore.

After the stake sale, the combined promoter and promoter group holding in Cipla has come down to 29.2 per cent from 30.92 per cent.

DSP Mutual Fund (MF), Axis MF, Aditya Birla Sun Life MF, ICICI Prudential MF, Motilal Oswal MF, SBI Life Insurance, and Tata AIA Life Insurance have also bought shares in Cipla.

Samina and Rumana, are nieces of Y K Hamied -- the non-executive chairman of Cipla.

Shares of Cipla fell 1.36 per cent to close at Rs 1,513 apiece on the NSE.

In October, Cipla reported a 17 per cent increase in consolidated net profit to Rs 1,303 crore for the September quarter, driven by robust sales across markets.

The company had reported a net profit of Rs 1,115 crore in the July-September period of the last fiscal.

In May this year, Shirin Hamied, Rumana Hamied, Samina Hamied, and Okasa Pharma Pvt Ltd sold 2.53 per cent equity stake in Cipla for Rs 2,750 crore.
Cipla was founded by Khwaja Abdul Hamied in 1935.