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Jubilant Life Sciences' promoters offload 3% stake

Two promoters of drug firm Jubilant Life Sciences has sold 3 per cent stake in the company for over Rs 455 crore, through open market transactions. The promoters are Jubilant Consumer and Jubilant Advisors LLP.

Jubilant Consumer has disposed of 27.36 lakh shares, amounting to 1.72 per cent stake in the company at an average price of Rs 914 per scrip, valuing the transaction at Rs 250.07 crore. The Jubilant Advisors LLP has sold 22.38 lakh shares, or 1.41 per cent stake in the drug firm at a price of Rs 917.43 apiece, translating into a transaction of Rs 205.32 crore.

Among the buyers of the shares was Copthall Mauritius Investment, which purchased 27.50 lakh shares for Rs 251.35 crore.

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