Adar Poonawalla sells entire stake in Panacea Biotec for Rs 118 crore

As per shareholding statistics for March 2021 quarter, both Poonawalla and SII were public shareholders in the firm and held 5.15 per cent and 4.98 per cent stake in Panacea

Serum Institute of India (SII), India’s largest Covid Vaccine manufacturer’s CEO Adar Poonawalla have divested his entire stake in Panacea Biotec consisted of 5.15 per cent shareholding of the firm of Rs.118 crore, through an open market transaction on Monday.


The shares were selected by Serum Institute of India (SII). As per BSE Data Poonawalla sold 31,57,034 scrip he held in the firm at a price of Rs.373.85 per share, taking the total deal value to Rs.118.02 crore.


As per shareholding statistics for March 2021 quarter, both Poonawalla and SII were public shareholders in the firm and held 5.15 per cent and 4.98 per cent stake in Panacea, respectively. The shares were picked by SII at the same price, through a separate transaction.


Shares of Panacea Biotec on Monday ended at Rs.384.9 apiece. 1.16 per cent higher over the preceding close.


Also in a separate deal, Sarda Mines sold shares worth Rs.227.66 crore in Jindal Steel and Power Limited. Over 52.74 lakh scrip was divested at the price of RS.431.62 each. Jindal Steel and Power stock on Monday ended 4.65 per cent higher at Rs.436.55.

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